Mega-deals is the answer according to this comprehensive, graphics-rich analysis by specialist outfit, Mergermarket.

Some 320 transactions valued collectively at US$117.3 billion is the strongest first quarter on record and, according to Mergermarket data, worth more than all the deals done in the entire calendar year of 2007.

Li Ka-shing's move to restructure his Cheung Kong empire was the major market driver, worth US$40.8 billion on its own.