By The Weekly Edge desk ·
EGR reported that Evolution EVO · SEK 800.00 2026-10-16 Data ended its proposed $85m purchase of Galaxy Gaming. Galaxy Gaming is due a $5.2m cancellation payment.
The cancelled purchase leaves Galaxy Gaming due a termination payment from Evolution.
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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.