1-on-1 Negotiated Sale M&A Between 2 Public Companies

What's the typical process for a (non-hostile) public company M&A deal where the buyer is the one initiating the acquisition talks (as opposed to the seller exploring a sale)? Since there would not be a broad/limited auction process where the seller invites multiple potential buyers, will a data-room still be set up? 

How does the buyer conduct diligence given that there is already a handful of public information on the seller (a publicly-traded company)?

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