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onsemi Revises Synaptics Deal to About $5.7B in Cash, $123 Per Share

onsemi has amended the terms of its acquisition of Synaptics, switching to about $5.7 billion in cash from roughly $7 billion in stock consideration. The company will pay $123 per share and expects the deal to be immediately accretive to earnings while giving Synaptics shareholders “value certainty.” The merger is expected to close around mid-2027, subject to Synaptics investor approval and regulatory review.

Original source

AI take

The shift from stock to cash is the real signal: it moves the risk of onsemi's own equity out of the deal and onto its balance sheet, which is why 'value certainty' is the framing offered to Synaptics holders. That matters most for Synaptics investors weighing a fixed payout against a long wait, and for onsemi's own capital structure. The open question is whether the mid-2027 timeline survives investor approval and regulatory review without further amendments.

Generated by AI for reference only.

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