I have had a few pre-merger due diligence positions which morphed into Change Manager once the merger was announced. In Publicly Traded corporations, due diligence work is extremely confidential because of its potential to impact stock values. By its very nature, the Due Diligence manager or teams answer to the CEO's and selected C level executives only.
A sudden appearance of someone in the Executive suite or a team of individuals rases questions, consternations or fear among those who observe it. For me, ethically, I do not condone lying about my purpose to those who ask. I refer them to the CEO and that that individual handle it. Interestingly, I find that most of the questions come from high level personnel such as VP's or Directors. Wherever possible (easier now than fifteen years ago), I have this work done virtually. Revealing a potential merger, acquisition or divestiture prematurely can be a criminal offense depending on the circumstances. I don't even confirm or deny if it appears in publications not officially endorsed by the parties.
------------------------------
Frank Gorman, Former ACMP Board Member, Transformation Consultant
------------------------------