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what kind of work can an A0 expect in these in-house M&A teams anyway, and how is it different from lawfirm M&A, PE/VC teams
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Not really. If you have relevant work experience it won't be hard to switch. Lot of people start out in house and then move to firms after a year or two. However, some big firms do disregard in house experience and make you start at A0 or A1.
Is it difficult to shift to a law firm after working at a big in-house M&A team(think Reliance, JSW, Cipla, etc) as a fresher?