With global M&A volume reaching its highest on record for the month August and $300 trillion dollars on coporate balance sheets, look for CEOs to start deploying more cash on mergers and acquistions.
"We only see M&A activity when there's a belief that we're in a recovery near the end," Jeff Kaplan, global head of M&A and corporate finance at Bank of America Merrill Lynch, told CNBC's The Strategy Sessionon Friday.
"Big tech companies have the lion share of this cash," just look at the bidding war that took place between Hewlett-Packard and Dellover the cloud-based storage application company 3Par, he said.