Synaptics amends onsemi merger to $123/share cash, cutting aggregate value to about $5.7B

SYNAPTICS Inc

Amended and restated merger agreement dated Oct. 1, 2026 replaces June 25, 2026 pact; Synaptics shareholders to receive $123 cash per share, about $5.7B total value vs prior ~$7B.
Merger follows unsolicited Sept. 2, 2026 proposal from Party A; Synaptics board determined revised proposal no longer a Superior Proposal and unanimously approved onsemi deal.
HSR approval and FTC clearance obtained; transaction still needs majority of Synaptics shares outstanding and other regulatory approvals, expected to close by mid-2027.
Financing is fully committed debt from Morgan Stanley with no financing closing condition; onsemi expects immediate non-GAAP EPS accretion and cites $200M annual run-rate synergies.
Equity awards: RSUs, PSUs and MSUs held by continuing employees convert to onsemi awards using Conversion Ratio; vested/non-employee awards cashed out at $123 per share equivalent.

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