Twitter has signed up. The company has reportedly hired Wachtell, Lipton, Rosen & Katz, a company that is remarkable enough to have your own Wikipedia pageand one of its founders, Martin Lipton, was credited with inventing the shareholder rights scheme or “poison pill” defense that Twitter initially used to curb Musk’s buyout attempt.
Elon Musk filed a document Friday seeking to cancel his $44 billion acquisition of Twitter. In response, Twitter chairman Bret Taylor tweeted that the company would take legal action to close the deal as agreed. Wachtell Lipton’s hires, as reported by Bloomberg† suggests Twitter is serious about taking its case to the Delaware Court of Chancery.
Twitter has hired two key lawyers for its team. One is William Savitt, who has represented companies such as: Hymn and Sotheby’s in Delaware court against activist investors. The other is Leo Strine, a former Chancellor of the Delaware Chancery Court with 20 years of experience as a judge in the state courts, ending with a stint as chief justice of the state supreme court before joining the firm in 2020.
Musk allegedly hired Quinn Emanuel Urquhart & Sullivan, who also… received the Wikipedia treatmentand may be more known by roadside readers. It covered Samsung’s defense against Apple’s patent lawsuit alleging the Galaxy devices were just a copycat of the iPhone, and has previously defended Musk, in his “pedo guy” defamation lawsuit, as well as the aftermath of his “funding secured” tweet about taking Tesla private in business against the SEC and a ongoing lawsuit against shareholders†