On Semiconductor replaced its $7 billion all-stock offer to acquire Synaptics with a $5.7 billion all-cash bid, causing shares of both companies to rise sharply. This move eliminates dilution for On Semiconductor shareholders and provides Synaptics investors with a fixed cash price, backed unanimously by Synaptics' board. The deal is expected to be immediately accretive to On Semiconductor's earnings per share and is funded through cash and committed debt, with regulatory approvals pending. Investors will watch for Synaptics shareholder votes and financing details as the transaction aims to close by mid-2027.
On Semiconductor shares are up 6.44% at USD 85.24 on Pluang as of Oct 02, 2026 20:21 WIB, reflecting strong investor interest after the cash bid news. The stock's market cap stands at $31.18 billion with a high buy order activity of 98%. This shows robust demand despite the 52-week high of $133.93 and low of $44.90, indicating ongoing volatility in the tech sector.
