An interested corporation will have already done their DD before the meeting if their an interested investor or buyer. That way they can knowingly ask questions and receive answers.
I disagree. As a major buyer you do basic DD like any retail investor do BUT you will ALSO sit with the management to "talk" to them about anything. Then, you go ahead and verify what they said through 6-8 months of serious DD. If you find something that is not matching the management claims you don't want to mess with that company (I have been there!). Investors don't spend a lot of time and resources before they meet with the the company folks.