Washington, July 11: Twitter has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz LLP as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, Bloomberg reported citing people familiar with the matter.
The social media company aims to file suit early this week, people familiar with the matter said.
According to the report, Musk has brought in Quinn Emanuel Urquhart & Sullivan LLP. The firm led his successful defense against a defamation claim in 2019 and is representing him as part of an ongoing shareholder lawsuit over his failed attempt to take Tesla Inc. private in 2018.
Musk on Friday moved to back out of his $44 billion deal to buy Twitter, citing continued disagreements over the number of spam accounts on the platform.
In response, Twitter board chair Bret Taylor tweeted Friday the company intends to pursue legal action to close the transaction.
