SYNAPTICS Inc [SYNA] - / ON Semiconductor Corporation merger
SYNAPTICS Inc will merge with ON Semiconductor Corporation's wholly-owned subsidiary, Sonic Acquisition Corp., following an unsolicited proposal to acquire all outstanding shares of SYNAPTICS Common Stock.
Why this matters
Synaptics Inc, a company specializing in semiconductors and related devices, is known for its human-machine interface and sensing products, which are integral to various consumer electronics and industrial applications. Recently, Synaptics agreed to merge with ON Semiconductor Corporation's wholly-owned subsidiary, Sonic Acquisition Corp., following an unsolicited proposal to acquire all outstanding shares of Synaptics Common Stock. The revised merger agreement, announced on June 25, 2026, values Synaptics at $123 per share in cash, totaling approximately $5.7 billion. This all-cash transaction is expected to be immediately accretive to ON Semiconductor's non-GAAP earnings per share, with additional revenue synergies and production insourcing benefits anticipated within 18 months post-close.