Bloomberg reported, citing research data from Intralinks and consultancy EY, that M&A activity is on track to reach record levels this year after a first half dominated by mega deals, even as valuations reach new highs.

Bloomberg notes last month was the highest June on record for transaction values, according to a separate report from EY, setting the second half up to challenge 2007 as the best year on record for M&A.

Bloomberg said global M&A volumes for 2015 will probably increase by about 11% from last year, according to Intralinks’s latest Deal Flow Predictor, as cheap financing and growth plans drive deals.

Access the full Bloomberg report here.