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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Synaptics shares jumped after onsemi replaced its proposed stock-based acquisition with a fixed offer of $123 in cash per share. SYNA closed at $121.10 on October 2, 2026, up 14.08% for the day. The revised deal offers more certainty about the amount shareholders would receive if it closes, but its stated aggregate value—about $5.7 billion—is lower than the roughly $7 billion value cited for the original agreement.
Why did Synaptics stock rise 14%?
The jump followed the companies’ October 1 announcement that onsemi would pay $123 in cash for each Synaptics share, replacing the all-stock consideration in their June agreement. Yahoo Finance reported that Synaptics closed at $121.10 on October 2, up 14.08% from its previous close of $106.15. The offer was about 15.9% above that October 1 closing price. (onsemi announcement; Yahoo Finance)
The timing and revised terms suggest investors repriced SYNA toward the proposed cash amount. That is an inference from the announcement and the market move, not a separately established explanation for every trade. The October 2 closing price remained below $123, and the acquisition had not closed; the offer is not a guaranteed return or risk-free arbitrage.
What is onsemi offering for Synaptics?
Under the amended agreement announced October 1, 2026, onsemi would pay $123 per Synaptics share in cash. The companies put the revised transaction’s aggregate value at approximately $5.7 billion. This is a proposed acquisition, not a completed sale. (onsemi announcement; SEC filing)
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How the revised offer compares with the original agreement
On June 25, 2026, the companies announced an all-stock merger agreement with a stated enterprise value of approximately $7 billion. The October revision changes the type of consideration and lowers the headline aggregate value; it does not simply increase the total purchase price. The original stock consideration’s value depended on onsemi’s share price, so the two headline values are not equivalent measures of guaranteed per-share proceeds.
| Term | June 25 agreement | October 1 amended agreement |
|---|---|---|
| Consideration | All stock; value depended on onsemi’s share price | $123 cash per Synaptics share |
| Stated aggregate transaction value | Approximately $7 billion | Approximately $5.7 billion |
| Shareholder payment certainty | Market value of stock consideration could fluctuate | Fixed nominal cash amount if the deal closes |
| Status | Original agreement announced June 25, 2026; later amended | Proposed; subject to closing conditions |
The original agreement’s value is described by Synaptics and onsemi in their June announcement; the revised terms appear in the companies’ October announcement and SEC filings. (June announcement; October announcement)
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Why the companies call the cash deal more attractive
A fixed cash amount removes shareholders’ exposure to changes in onsemi’s share price as a source of consideration. It therefore provides greater certainty about the nominal payment than an offer made in stock, assuming the merger closes. That certainty is distinct from the deal’s aggregate headline value, which fell from approximately $7 billion to approximately $5.7 billion.
Management also presented the revision as more attractive for both sides. onsemi CEO Hassane El-Khoury said the revised agreement was “a more financially attractive transaction” for onsemi shareholders. Synaptics CEO Rahul Patel said the all-cash transaction offered shareholders “higher value” through lower total cost consideration and that the company expected it to be immediately accretive to non-GAAP earnings per share after closing. Those are executives’ assessments and an expectation about future results, not verified outcomes. (company announcement)
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What prompted the amendment?
The companies said the revised agreement followed an unsolicited competing proposal. The official October announcement and cited SEC filings do not identify the bidder or disclose its proposed price, financing, or other terms. The existence of that proposal is public; its details are not established in those sources. (company announcement; SEC filing)
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Has the acquisition closed?
No. The October 1 filings describe a proposed merger: an onsemi acquisition subsidiary would merge into Synaptics, which would survive as an indirect wholly owned subsidiary of onsemi. Completion remains subject to satisfaction or waiver of the agreement’s conditions, including required regulatory and stockholder approvals. The filings also identify litigation, timing uncertainty, and failure to meet closing conditions as risks. (SEC filing)
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