onsemi's NASDAQ: ON all-stock bid to acquire Synaptics NASDAQ: SYNA initially depressed the share price, but now things are different. The massive share price decline undercut the value of the all-stock Synaptics bid, enabling a competing suitor to enter the mix.
Synaptics (SYNA) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
ON Semiconductor's revised $5.7 billion acquisition of Synaptics could deliver a bigger earnings boost than originally expected while eliminating the share dilution that had weighed on the deal, Bank of America said. Following an unsolicited competing proposal, the companies amended their June 25 agreement to replace the all-stock transaction with a $123-per-share cash offer.
| Semiconductors & Semiconductor Equipment Industry | Information Technology Sector | Rahul G. Patel CEO | XSTU Exchange | 87157D109 CUSIP |
| US Country | 1,700 Employees | - Last Dividend | 2 Sep 2008 Last Split | 29 Jan 2002 IPO Date |
Synaptics Incorporated, established in 1986 and based in San Jose, California, operates on a global scale, developing, marketing, and selling semiconductor products. Catering to a wide array of clients, including mobile and PC Original Equipment Manufacturers (OEMs), Internet of Things (IoT) OEMs, automotive, and consumer electronics manufacturers, Synaptics provides innovative solutions through direct sales, outside sales representatives, distributors, and resellers. Their extensive portfolio meets a variety of market needs, from enhancing user interaction with electronic devices to facilitating advanced connectivity and security.