According to reports, Twitter has hired a top law firm to sue Elon Musk for canceling the $44 billion acquisition.

According to reports, Twitter has hired a top law firm to sue Elon Musk for canceling the $44 billion acquisition.

Earlier on Saturday, Elon Musk announced the cancellation of a $44 billion Twitter acquisition agreement.

According to reports, Twitter has hired a top law firm to sue Elon Musk for canceling the $44 billion acquisition.

Twitter is considering legal action against Tesla and SpaceX CEO Elon Musk for canceling a $44 billion acquisition offer.

According to The Hill, the microblogging site has recruited the prominent New York-based law firm Wachtell, Lipton, Rosen & Katz LLP in preparation for a lawsuit against Musk.

Next Monday, Twitter will file a lawsuit in Delaware. Meanwhile, Musk is represented by Quinn Emanuel Urquhart & Sullivan, a legal firm.

Twitter's chairman, Bret Taylor, stated on Saturday, "The Twitter Board of Directors is committed to complete the deal at the agreed-upon price and terms with Mr. Musk and intends to take legal action to enforce the merger agreement. We are optimistic that we will be successful in the Delaware Court of Chancery."

In a statement addressed to Twitter earlier on Saturday, Musk's team confirmed the cancellation of a $44 billion Twitter acquisition transaction.

Musk chose to halt the transaction owing to many violations of the acquisition agreement. According to the letter, the Tesla CEO's staff believes that the amount of spam and false accounts is "wildly greater" than 5%.

"As further stated below," the letter added on Friday, "Mr Musk is terminating the Merger Agreement because Twitter is in substantial breach of several articles of that Agreement."

"In conclusion, despite Musk's repeated, comprehensive explanations meant to ease Twitter's identification, gathering, and disclosure of the most relevant information sought in Musk's original requests, Twitter has not given material that Musk has asked for almost two months."

Musk agreed to buy Twitter for $54.20 per share in an all-cash deal worth around $44 billion in April. Musk, though, put the acquisition on hold in May to allow his team to investigate Twitter's assertion that less than 5% of accounts on the network are bots or spam.

Musk openly accused the microblogging website of breaking the merger agreement in June, threatening to walk away and cancel the social media company's acquisition for failing to provide the data he had asked on spam and fraudulent accounts.

According to CNN, Musk claimed in a letter to Twitter's head of legal, policy, and trust, Vijaya Gadde, that Twitter is "actively fighting and undermining his information rights" as stipulated in the agreement.

Musk asked that Twitter turn over details on its testing procedures to back up its claims that bots and false accounts make for fewer than 5% of the platform's active user base, a figure that the company has repeatedly declared in boilerplate public disclosures for years.

Musk tweeted a summary of his response to Twitter's lawsuit on Monday.

Musk noted out in his tweet that as part of the process of forcing him to purchase Twitter through a lawsuit, the social media firm will now be forced to provide information on bot accounts in court.

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