Evolution Urges Shareholders to Reject Candle Lake Bid
Evolution’s board has recommended that shareholders reject Candle Lake Limited’s SEK695-per-share mandatory cash offer, saying the proposal does not adequately reflect the company’s value. The bid values Evolution at approximately SEK131.7 billion and follows Candle Lake’s increase in its stake above the 30% threshold that triggers a mandatory offer under Swedish takeover rules. Candle Lake, the investment vehicle of billionaire Kenneth Dart, announced the bid on August 13. The acceptance period began on August 17 and is expected to end around […] The post Evolution Urges Shareholders to Reject Candle Lake Bid appeared first on World Casino News.
Evolution’s board has recommended that shareholders reject Candle Lake Limited’s SEK695-per-share mandatory cash offer, saying the proposal does not adequately reflect the company’s value. The bid values Evolution at approximately SEK131.7 billion and follows Candle Lake’s increase in its stake above the 30% threshold that triggers a mandatory offer under Swedish takeover rules. Candle Lake, the investment vehicle of billionaire Kenneth Dart, announced the bid on August 13. The acceptance period began on August 17 and is expected to end around […]
The post Evolution Urges Shareholders to Reject Candle Lake Bid appeared first on World Casino News.
