Taylor Lautner to team with Michael Bay

Twilight star Taylor Lautner will team up with Transformers director Michael Bay for a new action movie.

Bay's Platinum Dunes production company has sent out a Jason Hall-penned script for auction to all the major Hollywood studios.

Little is known about the project's storyline. However, insiders told Deadline that "it's Mr & Mrs Smith meets Wanted".

Lautner picked up eight-figure deals when he signed for Incarceron and New Regency's as-yet-untitled spy project earlier this year. He is also due to net $7.5 million for leading Universal's Stretch Armstrong movie.

Lautner will be seen in Abduction, his first leading role outside the Twilight series, in September.

Bay has Transformers: Dark Of The Moon opening this summer.