The executive leadership of ProSiebenSat.1 has approved the acquisition by the Italian media conglomerate MFE, formerly known as Mediaset and is advising shareholders to accept the revised takeover offer. The announcement, made on Wednesday, marks a significant development in the ongoing acquisition process.
The company’s management board and supervisory board expressed their endorsement of the increased consideration offered by MFE. They view this change as indicative of MFE’s long-term investment strategy and continued commitment to ProSiebenSat.1. The revised offer is considered by the board to be appropriate. This assessment is independently supported by opinions from Morgan Stanley, acting as advisors to the management board and Goldman Sachs, advising the supervisory board.
The deadline for shareholders to accept the amended offer from MFE is currently set for August 24th at midnight, although this may be extended by law. Following this deadline, a further acceptance period of two weeks will be in effect.