What does corp dev do in an M&A deal?

In a typical M&A transaction, internally, what does the corp dev team do while working with the bankers? What is the primary focus?

 

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"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

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