“It’s only June, but already there has been $786 billion worth of mergers and acquisitions in the United States, according to Dealogic. That’s a lot more than the past few years and not far off from the total for all of 2007, the last ‘big spender’ year. Historically low interest rates coupled with strong corporate balance sheets — all that cash on hand — are also making acquisitions attractive. Companies often borrow heavily to finance deals, and debt is cheap right now. But the fact that the stock market is hovering near records also suggests that takeover targets are not cheap. [And] the reality is that successful acquisitions that really help companies long-term are in the minority.”
http://money.cnn.com/2014/06/16/investing/mergers-and-acquisitons-boom/