From The Next Web · Darius Popa · · 1m
Cirrus Logic bid for Synaptics to break Onsemi deal
Chipmaker Cirrus Logic made a surprise cash and stock offer for Synaptics last month, prompting Onsemi to sweeten its all-stock deal to all cash.
In brief
Chipmaker Cirrus Logic made a surprise cash and stock offer for Synaptics last month, prompting Onsemi to sweeten its all-stock deal to all cash. Cirrus Logic made a rival bid for Synaptics to disrupt Onsemi's agreed acquisition, but Synaptics' board chose Onsemi's revised all-cash offer as better for shareholders…
Cirrus Logic's surprise bid for Synaptics
Chipmaker Cirrus Logic made an unsolicited offer for Synaptics last month using cash and shares, according to Bloomberg reporting by Liana Baker and Yiqin Shen.
Onsemi responds with all-cash offer
Onsemi changed its offer to one hundred twenty three dollars a share, all in cash, valuing the deal at about five point seven billion dollars after the competing bid.
Synaptics board picks Onsemi's revised deal
Synaptics' board held talks with Cirrus Logic but decided Onsemi's revised all-cash offer was better for shareholders. The Onsemi deal is expected to close by mid-twenty twenty-seven.
What to remember
Cirrus Logic made a rival bid for Synaptics to disrupt Onsemi's agreed acquisition, but Synaptics' board chose Onsemi's revised all-cash offer as better for shareholders.
