Why Are onsemi (ON) Shares Soaring Today

Shares of analog chips maker onsemi (NASDAQ:ON) jumped 5.5% in the morning session after optimism improved, with the stock extending gains from the previous session as the company announced a revised merger agreement to acquire Synaptics Incorporated for $123 per share in cash, lowering the total transaction value to approximately $5.7 billion from approximately $7 billion previously.