Which of the following is not a step in the process by which an investment bank assists in the sale of a company or corporate division?

Which of the following is not a step in the process by which an investment bank assists in the sale of a company or corporate division?

A: Preparation of a definitive agreement

B: Preparation of a confidential memorandum

C: Negotiation of a letter of intent

D: Forming a syndicate of purchasers