By The Weekly Edge desk ·
Asia Gaming Brief reported that Evolution EVO · SEK 800.00 2026-10-16 Data gave notice ending its Galaxy Gaming merger agreement. Evolution agreed to a $5.2m termination fee.
The termination ends the planned merger and creates a fee obligation.
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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.