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Mergers often have little to do with the strength of the economy. Certain industries and segments of industries are more prone to merger than others. Reasons why they can make sense:
When operating efficiencies are achieved through a larger size or increased operating area
When the only available method of growth is through merger and acquisition
When one company is relatively weak or another is relatively strong based on their stock valuations and future competition can be eliminated
When a company faces a temporary scandal or loss of market confidence which lowers their stock price and pushes the company's valuation below what they are really worth
When an established company has little in the pipeline of new products but they have enough cash to take over someone that has future products but little going on right now
etc, etc, etc
Banking, insurance, pharmaceuticals, telecommunications and many others are prime examples where mergers are commonplace.
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Strive to be more curious than ignorant.
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