Question about ECM and M&A

So say a company is pending an acquisition of another company for strategic purposes and it expects to raise $500m from investors to help pay for the acquisition.

My understanding is that ECM will help raise the capital/underwrite and thus be in constant contact with the M&A team. But what is the responsibility of the M&A team? Would it be to win the mandate initially, help set the deal terms and hand hold the acquirer's company through the process?

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