Shares of Digital World Acquisition Corp. DWAC, -3.10%, the special-purpose acquisition company, or SPAC, buying the company behind Donald Trump’s Truth Social social-media company, fell 4% Tuesday after news that Elon Musk is now offering to acquire Twitter Inc. TWTR, +12.67% at the original offer price of $54.20 a share. Musk agreed in April to buy Twitter in a deal that valued the company at roughly $44 billion, but he said months later that he was terminating the deal. The Tesla TSLA, +1.12% chief executive cited concerns about the presence of so-called bots on Twitter and said he believed the company’s management team wasn’t accurate in its public disclosures about the extent of spam activity on the platform. The two sides have been locked in a legal battle for months, and a Delaware Chancery Court judge was expected to hear from both sides in a five-day trial slated to begin Oct. 17. Twitter shares soared 12.7% on the news. Tesla shares were up 2.5%.
