Ademi LLP Probes Synaptics Sale to Onsemi for Fiduciary Breaches

The proposed transaction entitles Synaptics shareholders to 0.350 shares of onsemi common stock for each share held, leaving them with roughly 12% of the combined entity. Ademi LLP alleges that the deal structure includes restrictive provisions, specifically a significant penalty designed to deter competing bids. Attorneys are now scrutinizing the board’s decision-making process to determine if directors breached their fiduciary duties by limiting potential alternatives for the company. The firm is currently soliciting inquiries from stockholders concerned about the fairness of the valuation and the specific benefits allocated to insiders under the current change-of-control arrangements.