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We analyze the morphological properties of a large sample of 1503 70 micronselected galaxies in the COSMOS field spanning the redshift range 0.01<z< 3.5with a median redshift of 0.5 and an infrared luminosity range of10^8<L_IR<10^14L_sun with a median luminosity of 10^11.4 L_sun. In generalthese galaxies are massive, with a stellar mass range of 10^10-10^12 M_sun, andluminous, with -25<M_K<-20. We find a strong correlation between the fractionof major mergers and L_IR, with the fraction at the highest luminosity being upto 50%. We also find that the fraction of spirals drops dramatically with L_IR.Minor mergers likely play a role in boosting the infrared luminosity forsources with low luminosities. The precise fraction of mergers in any givenL_IR bin varies by redshift due to sources at z>1 being difficult to classifyand subject to the effects of band pass shifting, therefore, these numbers canonly be considered lower limits. At z<1, where the morphologicalclassifications are most robust, major mergers clearly dominate the ULIRGpopulation (50-80%) and are important for the LIRG population (25-40%). At z>1the fraction of major mergers is at least 30-40% for ULIRGs. Although thegeneral morphological trends agree with what has been observed for local(U)LIRGs, the fraction of major mergers is slightly lower than seen locally.This is in part due to the difficulty of identifying merger signatures at highredshift. We argue that given the number of major gas-rich mergers observed andthe relatively short timescale that they would be observable in the (U)LIRGphase that it is plausible for the observed red sequence of massive ellipticals(<10^12 M_sun) to have been formed entirely by gas-rich major mergers.

A Multiwavelength Study of a Sample of 70 micron Selected Galaxies in the COSMOS Field II: The Role of Mergers in Galaxy Evolution