By The Weekly Edge desk ·
EGR reported that Evolution EVO · SEK 800.00 2026-10-16 Data chief executive Martin Carlesund indicated the company might abandon its proposed $85m Galaxy Gaming purchase. The closing period expires on 17 July, when either party can terminate the agreement.
The transaction faces possible termination as its agreed closing period expires.
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Shareholders face an offer below Evolution’s current trading price, with the board advising them to decline.
Evolution’s board rejection signals to investors that it considers Candle Lake’s mandatory takeover offer below the company’s value.
Crossing the ownership threshold required Candle Lake to make a takeover offer.
The filing brings Evolution’s regulatory settlement and abandoned acquisition into the dispute.
The shareholding increase triggers a takeover-offer obligation for Candle Lake.
The increased stake requires Candle Lake to make an offer or cut its ownership.