Private equity firms are starting the second half of 2014 with more cash on hand than they've ever had, at any point -- plus, dirt-cheap debt with which to operate! The Deal previewed, before the 4th of July at our paywall site, potential M&A targets to look for in the back half of 2014. It includes Wendy's, which would be attractive to risk-averse investors. But that's not all -- activist investors are pressing big brand to weigh M&A, divestitures, or outright LBOs. This could turn into even more opportunity for private equity, and we break down where bankers (and, investors) could look for that merger premium.

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