Twitter reportedly hires the firm that invented the ‘poison pill’ to sue Elon Musk
Twitter lawyered up. The company reportedly hired Wachtell, Lipton, Rosen & Katz, a firm notable enough to have its own Wikipedia page, and a founding partner, Martin Lipton, credited with inventing the shareholder rights plan or “poison pill” defense that Twitter initially used to put the brakes on Musk’s attempted buyout.
On Friday, Elon Musk filed a document to attempt to cancel his $44 billion takeover of Twitter. In response, Twitter chairman Bret Taylor tweeted the company would pursue legal action to close the deal as agreed upon. Wachtell Lipton’s hiring, as reported by Bloomberg, suggests Twitter is serious about arguing its case in the Delaware Court of Chancery.
During an appearance at the Sun Valley Conference this weekend…