M&A activity has taken place in waves

Know that M&A activity has taken place in waves (no need to know historical details or specifics about each wave) and recent
developments (i.e. significant increase in number, value and importance of M&As over the past two decades with a seventh
M&A wave emerging since 2010; no need to know specific numbers or details, but be familiar with the importance and
proliferation of M&As in general, both domestically and internationally).