Cirrus Logic
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- Cirrus Logic bid for Synaptics; onsemi switches to $5.7B all-cash deal
Cirrus Logic made an unsolicited cash-and-stock acquisition offer for Synaptics last month, according to Bloomberg, citing people familiar with the matter, in an attempt to disrupt Synaptics' previously announced deal with onsemi. Those people said the unnamed "Party A" referenced in Synaptics' updated proxy filing on Thursday is Cirrus Logic, though it is unclear whether Cirrus Logic still intends to pursue a deal. The competing proposal prompted onsemi to revise its agreement last week from an all-stock structure to all cash at $123 per share, cutting the transaction's value to about $5.7 billion from roughly $7 billion, an 18.6% discount; onsemi announced the acquisition of the edge-AI chip company in June, with the deal expected to close in mid-2027.
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