$ON (ON SEMICONDUCTOR) — 8-K: onsemi cuts Synaptics deal price to $123 per share, $5.7 billion total, immediately accretive to non-GAAP EPS

onsemi amended its June 25, 2026 merger agreement to acquire Synaptics for $123 per share in cash, an aggregate value of approximately $5.7 billion, down from approximately $7 billion under the prior agreement. The revision follows an unsolicited competing proposal from a third party. The all-cash transaction is expected to be immediately accretive to onsemi's non-GAAP earnings per share upon closing, with the previously announced $200 million of annual run-rate synergies plus incremental revenue synergies and insourcing benefits expected after the initial 18 months post-close. The deal is still expected to close by mid-2027, has been approved by the United States Federal Trade Commission, and is financed through cash on hand and fully committed debt financing from Morgan Stanley with no financing closing condition.

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