The distractedness of the executives is spot on. But it always seems to be in hindsight that we look back and go "huh, funny..." I am sure we could write an inference bot that monitors the calendars of people in the organization and estimates that an acquisition is imminent.
And the security/bug fixing. "Yeah, that bug has been there for three years, nobody has time to fix it." Well, all of a sudden, we are fixing it. And more besides. And the licensing of software and source code. Getting a full run down of every open source license, and I mean _every_ license, and then going back and checking them again. A sudden drive to document everything.
I've also seen the ugly side of acquisition too. An equity claw back that happened to me many years ago that I am still sore about. Sudden acceleration of equity grants and a "re-interpretation of what 'it' means" or extreme scrutiny of whether you actually qualify for the equity in your contract. I've seen a few good people suddenly not get anything because there was a missing signature on a document even though the person had been at the company three years.
Large amounts of acquisition money does strange things to people.