Onsemi falls on $7 billion all-stock deal to buy Synaptics
BUZZ-Onsemi falls on $7 billion all-stock deal to buy Synaptics Updates
** Chipmaker Onsemi's ON.O shares fall 8.6% to $108.49 in extended trading after it announces deal to buy Synaptics SYNA.O in an all-stock transaction
** The deal represents a total enterprise value of about $7 billion; SYNA stockholders will receive 1.350 shares of Onsemi common stock for each share of Synaptics common stock
** Synaptics shares rise 11.7% to $140.27
** Onsemi says the deal is expected to be accretive to adj. EPS within 18 months
** If deal is terminated, Synaptics would pay Onsemi $235 million under certain conditions, while Onsemi would pay Synaptics $320 million for regulatory termination issues
** One member of the Synaptics board is expected to join ON's board; deal is expected to close in mid-2027
** Onsemi has risen 119.3% YTD while SYNA has gained nearly 69.7%
(Reporting by Juby Babu in Mexico City)