On Semiconductor to Acquire Synaptics in Deal Valued Significantly Lower Than Initial Offer
On Semiconductor is acquiring Synaptics for a cash consideration, a deal that is seen as positive by Synaptics shareholders despite the reduced offer price. Synaptics stock surged in premarket trading.
By Adam Clark It's a rare day that a huge price cut is seen as a win for the selling party. But Synaptics stock was climbing in premarket trading Friday as shareholders welcomed On Semiconductor reducing its offer for the internet-of-things company while increasing the cash portion. On Semiconductor, known as On…