By The Weekly Edge desk ·
iGamingToday reported that Evolution EVO · SEK 800.00 2026-10-16 Data ended its merger agreement involving Galaxy Gaming and Galaga Merger Sub. Evolution said it would maintain its existing commercial arrangements with Galaxy Gaming, signed in 2023.
The merger ends while the companies’ existing commercial relationship continues.
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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.