CIRRUS LOGIC WAS THE MYSTERY BIDDER FOR SYNAPTICS

Cirrus Logic was "Party A," the unnamed rival that tried to out-bid onsemi for Synaptics, according to an October 8 Synaptics proxy filing and Bloomberg reporting. On September 27, Party A offered cash and stock implying $131.36 per Synaptics share; onsemi countered on October 1 with $123 per share in all cash, valuing the deal near $5.7 billion. Synaptics' board took the smaller but guaranteed cash offer over the richer bid tied to a rival's stock. The $SYNA takeover now closes as a cash deal instead of a bidding war.