10 (you are really a 1), if you were who you claim to be, then you are well aware that most sale processes begin in very subtle moves, usually not involving any investment bankers, or as you infer, barkers.
If one of those were asked to be inquiring as to a sale potential by the selling company and it was revealed prematurely that the selling company was up for sale prior to the CEO/Board declaring such, the investment barkers would be out on its ear and, in all likelihood, viewed negatively for a period of time.
For all we know, CD will have dinner next week with one of his CEO friends and strike a deal at an attractive price … and with no barkers, er, bankers around. It’s happened before and will again.
P.S. I’ve been involves in M&A and there is NO set pattern because no two CEO’s are the same … and in the end, s/he controls the process.