Market Insider

Wall Street's bull market starts to show its age

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Merger mania sweeps Wall Street

The bull market is seeing the equivalent of its first gray hairs.

Just take a look at the blast of merger activity Tuesday. Three big drug companies engaged in a swap of assets that reshapes a chunk of that industry's landscape, and an activist joined forces with serial acquirer Valeant to make a $46 billion run at Allergan, the company that makes Botox.

Although it is not yet an overheated deal arena, it is the best pace for deals in seven years and deal activity tends to come closer to the end of bull runs.