"This year, in particular, we've seen a huge broadening along a lot more industries," Dinan added. "Industrials—think of GE trying to buy Alstom. Volkswagen just announced yesterday they bought the minority stake in Scania they wanted. Rolls-Royce over in England trying to buy Finland's Wartsila, a big marine engine company. These are all very large, multibillion-dollar transactions."
In the consumer space, Dinan also noted the $4.3 billion purchase of Pinnacle Foods by Hillshire Brands.
The broadening of merger and acquisition activity signals a stronger economy, he added.
"And its broadening because for many of these companies the CEOs are starting to see the economy as a glass half-full, not half-empty. The economy's doing better. They're getting a lot more confidence. And this broadening bodes very well, not just for our strategy, but we think for the markets and the economy," he said.
Dinan, who has $22.3 billion in assets under management, suggested looking to Europe for M&A plays.
"There are a lot of European industrials that are out there," he said. "They're attractively priced and could be subject to M&A."
Disclosure: York Capital does not hold positions in the companies mentioned.
—By CNBC's Bruno J. Navarro. Follow him on Twitter