ON Semiconductor Announces Merger to Acquire Synaptics; HSR Wait Cleared

What Happened

• ON Semiconductor Corporation (onsemi) announced that on June 25, 2026 it entered into a Merger Agreement with its wholly owned subsidiary Merger Sub (Sonic Acquisition Corp.) and Synaptics Incorporated. Under the agreement, Merger Sub will merge into Synaptics, and Synaptics will become a wholly owned subsidiary of onsemi if the transaction closes.
• The parties filed Hart-Scott-Rodino (HSR) notifications on July 17, 2026, and the Federal Trade Commission granted early termination of the HSR waiting period on August 12, 2026. The companies continue to expect the transaction to close in mid-2027, subject to Synaptics stockholder approval and other regulatory clearances.

Key Details

• Merger Agreement signed: June 25, 2026.
• HSR notifications filed: July 17, 2026; FTC granted early termination: August 12, 2026.
• Expected close: mid-2027, contingent on Synaptics stockholder vote and remaining closing conditions.
• onsemi will file a Registration Statement on Form S-4 (including the proxy statement/prospectus) with the SEC; detailed risks and transaction terms will be disclosed there.

Why It Matters

• This is a material strategic deal: if completed, Synaptics will become part of onsemi, which could affect onsemi’s product mix, scale and growth prospects. The FTC’s early HSR clearance removes one regulatory hurdle, but the transaction still requires shareholder approval and additional regulatory clearances.
• Investors should watch for the Form S-4/proxy statement for full deal economics, timing, risk factors, and any disclosures about expected synergies or integration plans. The filing contains forward‑looking statements and directs investors to the forthcoming proxy/prospectus and SEC filings for complete information.