Sell side M\&A requires developing a confidential offering memorandum (or business plan). Such a document is generally used externally, in which case the writing style is more than if such a plan were used internally, in which case senior executives require a. Factual; salesy type language. b. Salesy, facts without exaggeration. c. Shakespearean; effusive pros. There is no difference in writing style between an internal vs. external business d. plan (offering memorandum)