Onsemi Amends Synaptics Merger Agreement at $5.7 Billion

05:37 PM EDT, 10/01/2026 (MT Newswires) -- Onsemi (ON) and Synaptics (SYNA) said Thursday they have amended their merger agreement following an unsolicited competing proposal from a third party. Onsemi will buy Synaptics for $123 a share in cash for about $5.7 billion under the revised agreement. In June, Onsemi agreed to acquire Synaptics in an all-stock deal with an enterprise value of about $7 billion. The deal is expected to be immediately accretive to Onsemi's non-GAAP earnings per share. Synaptics' board unanimously determined that the amended deal remains in the best interests of the company and its shareholders. The deal will be financed through a mix of cash on hand and committed financing, with Onsemi obtaining fully committed debt financing from Morgan Stanley. The deal is still expected to close by mid-2027, subject to shareholders' and regulatory approvals and other customary closing conditions. Onsemi shares were up 6% in after-hours activity, while Synaptics shares jumped more than 15%.