Elon Musk’s X and xAI all-stock merger broke Wall Street’s usual rules, with the same advisers, Morgan Stanley and Sullivan & Cromwell, working on both sides (Wall Street Journal)

Wall Street Journal:
Elon Musk's X and xAI all-stock merger broke Wall Street's usual rules, with the same advisers, Morgan Stanley and Sullivan & Cromwell, working on both sides  —  The tech titan can follow his own rules when he is combining two companies he owns, but the merger is still raising dealmaker eyebrows