ON is trading 19% down at $96.20 after announcing a $7 billion all-stock acquisition of Synaptics, marking the largest deal in the company's history.
- Investors are reacting to concerns over significant share dilution and the execution risks associated with integrating the two companies.
- There is growing skepticism regarding whether the promised synergies in AI and physical AI will materialize as projected.
- The sharp decline is being exacerbated by a broader downturn across the technology sector.