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Mergers & AcquisitionsMediumUpdated×2•Originally published 2 October 2026•Updated 2 October 2026•
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onsemi Amends Synaptics Acquisition to $123 Per Share Cash Offer

Key Facts

1ON Semiconductor shares rose 8% and Synaptics surged 14% following the amendment of merger terms.
2A new $5.7 billion cash bid has replaced the previous $7 billion stock-based deal.

ON Semiconductor and Synaptics have amended their merger agreement to an all-cash transaction valued at $5.7 billion, with the offer price set at $123 per share. Reuters reported that ON Semiconductor shares rose 8% and Synaptics surged 14% following the announcement of the revised terms. The company stated that the new cash bid is intended to provide immediate EPS accretion for onsemi shareholders and follows the review of an unsolicited competing proposal.

ON was trading at $85.22 on October 2, 2026, following a 6.4% rise, while SYNA closed at $106.15 on October 1, 2026. According to 247wallst.com, moving to a cash structure protects existing share buyback programs and avoids the equity dilution associated with the original $7 billion stock-based agreement.