Acquiring Company
Candle Lake Limited
Acquired Company
Evolution
Cayman Islands
Las VegasGamingGamblingGamingGamblingDescription
Candle Lake Limited has made a mandatory cash offer of SEK695 per share for Evolution, which the latter has urged its shareholders to reject. The offer values Evolution at SEK131.7bn but is stated to be below its fair market value. Evolution's board believes the offer does not reflect its true worth and has recommended shareholders not to accept it.
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M&A Insights
Based on deal dataFrequently asked
Who acquired Evolution?
Evolution was acquired by Candle Lake Limited, based in Cayman Islands. The deal was reported on August 24, 2026. Candle Lake Limited is an investment vehicle owned by billionaire Kenneth Dart. It primarily engages in investments and financial activities. The company has recently made a mandatory cash offer for Evolution. Candle Lake Limited is privately held and operates in Gaming.
When did Candle Lake Limited acquire Evolution?
Candle Lake Limited's acquisition of Evolution was reported on August 24, 2026. Candle Lake Limited has made a mandatory cash offer of SEK695 per share for Evolution, which the latter has urged its shareholders to reject. The offer values Evolution at SEK131.7bn but is stated to be below its fair market value. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Evolution do?
Evolution is a West Perth-based junior company focused on adding value to its Chilalo graphite project in Tanzania. The company is committed to advancing the Chilalo Graphite Project and realizing its downstream processing strategy in the United States. It is publicly traded (EPM), operating in Gaming, and is based in Las Vegas.
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