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Kenneth Dart Raises Evolution Stake to 30%, Triggers Offer

7/29/2026

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Summary

Story summary

Kenneth Dart, via Candle Lake Ltd., lifted his stake in Evolution AB to 30.02% with 2.05 million shares and must bid for rest or drop below threshold under law.
Evolution’s shares rose over 4% to 741.6 kronor (US$76.2), valuing the company at $15 billion.
After regulator delays, the firm abandoned its Galaxy Gaming merger, prompting a takeover that would delist Evolution by matching the highest price paid in six months.

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Story summary

Kenneth Dart, via Candle Lake Ltd., lifted his stake in Evolution AB to 30.02% with 2.05 million shares and must bid for rest or drop below threshold under law.
Evolution’s shares rose over 4% to 741.6 kronor (US$76.2), valuing the company at $15 billion.
After regulator delays, the firm abandoned its Galaxy Gaming merger, prompting a takeover that would delist Evolution by matching the highest price paid in six months.