onsemi's NASDAQ: ON all-stock bid to acquire Synaptics NASDAQ: SYNA initially depressed the share price, but now things are different. The massive share price decline undercut the value of the all-stock Synaptics bid, enabling a competing suitor to enter the mix.

Stifel analyst Tore Svanberg raised the price target for ON Semiconductor (NASDAQ:ON) from $75 to $80. With the inventory correction largely complete but demand recovery still developing, the analyst maintained the Hold rating on the stock.

ON Semiconductor's revised $5.7 billion acquisition of Synaptics could deliver a bigger earnings boost than originally expected while eliminating the share dilution that had weighed on the deal, Bank of America said. Following an unsolicited competing proposal, the companies amended their June 25 agreement to replace the all-stock transaction with a $123-per-share cash offer.

Onsemi and Synaptics shares are on the rise after a revised merger deal.

ON Semiconductor (ON) has seen a significant rise in its stock value following the conversion of its proposed acquisition of Synaptics (SYNA) from an all-stock

A revised takeover agreement is lifting both the buyer and the target in a chip deal that just got simpler. On Semiconductor (NASDAQ:ON | ON Price Prediction) stock is at $86.64, up 8% in morning trading.

Synaptics Incorporated (NASDAQ:SYNA) shares are trading higher Friday after the company announced late Thursday it will be acquired by onsemi for $123 per share under the revised agreement.

On Semiconductor stock and Synaptics are both rising after they renegotiated their acquisition deal. Here's why.

ON Semiconductor said it will pay $123 a share for Synaptics, giving the deal a value of around $5.7 billion.

Revised Terms to Deliver Higher onsemi Shareholder Value through Immediate EPS Accretion  Amended Agreement Follows Thorough Review of Unsolicited Competing Proposal SCOTTSDALE, Ariz. and SAN JOSE, Calif.