ON Semiconductor Stock Drops Over 23% After Announcing $7 Billion Acquisition of Synaptics
ON Semiconductor (ticker: ON) announced an all-stock acquisition of Synaptics for approximately $7 billion, valued at a 19% premium. The stock fell over 23% in early trading due to concerns about dilution and the integration challenges with Synaptics' consumer-focused business.
Topics: Corporate Strategy Mergers & Acquisitions Stock Market Reaction