An improving U.S. economy, continued low interest rates and thousands of companies sitting on piles of cash: It could add up to abundant fuel for an upsurge in mergers and acquisitions. In 2013, deal-making volume was up 11 percent in the U.S., and the momentum appears to be continuing in 2014. But risks still lurk, including economic uncertainty in Europe and the flourishing activist investor movement, which is forcing corporate boards to pay more attention to shareholder returns than takeover strategies. This panel will examine today's M&A landscape, including a focus on specific industries (such as biopharma and technology) where the deal-making may be hottest. How are the mathematics of megamergers evolving? Where will the next big buyouts come from--and what will be the most important factors in getting them done?