Cirrus Logic confirms it was the rival bidder for Synaptics, says it is not pursuing a deal

Cirrus Logic stepped out from behind a code name on Tuesday, confirming it was the mystery suitor that tried to buy Synaptics before Synaptics agreed to an all-cash sale to onsemi.

In a regulatory filing after the market closed, Cirrus said it made acquisition proposals for Synaptics and is the company described as "Party A" in Synaptics and onsemi merger filings. It added that it is "not currently pursuing a transaction with Synaptics" and will not comment further for now.

Cirrus also said it does not adopt or confirm the accuracy of how those filings describe the company or its proposals.

What the deal filings describe

Synaptics' preliminary proxy, filed Oct. 8, lays out a months-long courtship by Party A. That bidder first proposed $95 a share in March, in a mix of cash and stock, and later raised its offer several times.

On Sept. 27, Party A proposed $62.50 in cash plus a fixed number of its own shares for each Synaptics share, according to the proxy. Synaptics' adviser valued that package at about $131.36 a share as of Sept. 29, with roughly 52% paid in Party A stock, and noted it would also need a vote of Party A shareholders.

Onsemi responded on Sept. 29 by raising its all-cash offer to $123 a share from $120. Synaptics signed the amended onsemi merger agreement on Oct. 1, which pays $123 a share in cash, according to a Synaptics 8-K.

Cirrus shares closed at $107.99 on Tuesday, up about 1.6%, before the disclosure.

Sources

1. Cirrus Logic, Inc., Form 8-K (Item 7.01), filed Oct. 13, 2026 (accession 0000772406-26-000047)
2. Synaptics Incorporated, preliminary proxy statement (PREM14A), filed Oct. 8, 2026 (accession 0001140361-26-039142)
3. Synaptics Incorporated, Form 8-K, filed Oct. 1, 2026 (accession 0001140361-26-038301)

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