Cirrus Logic Said to Have Made Rival Bid for Synaptics After Onsemi Offer
FROM THE WIRE · SEEKINGALPHA.COM
[M&A Mergers And Acquisitions] narvo vexar Cirrus Logic (CRUS [https://seekingalpha.com/symbol/CRUS]) has offered to acquire Synaptics (SYNA [https://seekingalpha.com/symbol/SYNA]) in September, as the semiconductor company looked to fend off a competing bid from ON…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishRival bid in a $5.7B M&A transaction creates price uncertainty and volatility for the stocks involved.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Cirrus Logic has made a rival offer to acquire Synaptics following Onsemi's agreement at $123 per share.
- 02Onsemi had agreed to acquire Synaptics for approximately $5.7 billion in cash, revising a previous all-stock offer worth $7 billion.
- 03Cirrus Logic's rival bid was made in September, according to sources cited by Bloomberg.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Cirrus Logic, Inc.106.87 USDMarket closedtoday -5.59%Negative ON Semiconductor Corporation77.53 USDMarket closedtoday -2.37%Negative Synaptics Incorporated119.82 USDMarket closedtoday +0.62%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets