Synaptics is a target for takeover by Dialog Semiconductor. Synaptics was said to have rejected a $59 cash offer from Dialog back in March 2018 and Dialog should be coming back with a better offer this time and was allowed to do due diligence on Synaptics. This should imply a better chance of an merger agreement. Current price of Synaptics is around $54.50 and should rise beyond $59 in the event of a successful discussion of merger terms between the two parties, giving the trade a profit margin of 10%. I have initiated a small position of 150 shares and will increase my holdings depending on situation.
I have also added a small position (100 shares) in Convergys to play on the merger rumor.