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Evolution AB's Board Asks Shareholders to Reject Candle Lake's Mandatory Cash Takeover Bid

MT Newswires·08/24/2026 04:03:15
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04:03 AM EDT, 08/24/2026 (MT Newswires) -- Evolution AB's (EVO.ST) board advised shareholders not to accept the mandatory cash takeover bid by investment vehicle Candle Lake. The online gambling company said Monday the board believes that the offer of 695 kronor per share does not reflect fair market value. The board also noted that the offer was made only to fulfill the mandatory offer obligation instead of being motivated by any intention to acquire all shares in the company. Candle Lake made the offer on Aug. 13 after it exceeded the 30% ownership threshold in Evolution. The offer's acceptance period is expected to end on Sept. 15.