Onsemi and Synaptics revised their merger agreement, cutting the purchase price to $123 a share in cash from the roughly $7 billion deal announced June 25, and lowering the total value to about $5.7 billion.
The new terms reduce the consideration by about $1.3 billion. Onsemi said the revised structure is expected to be immediately accretive to non-GAAP earnings per share at closing, whereas the company’s earlier announcement had not included that immediate EPS benefit. Onsemi also said it has identified additional value opportunities beyond the $200 million of annual run-rate synergies previously disclosed, with those incremental benefits expected after the first 18 months following close.
The companies said the transaction is still expected to close by mid-2027. Onsemi has secured fully committed debt financing from Morgan Stanley, and the amended agreement does not include a financing closing condition. The deal has already received approval from the U.S. Federal Trade Commission and is still awaiting Synaptics shareholder approval and other regulatory clearances. Following these announcements, the company's shares moved 4.69%, and are now trading at a price of $106.15. Check out the company's full 8-K submission here.
