MFE-MediaForEurope Launches Takeover Bid for ProSiebenSat.1

The Berlusconi-controlled group offers €5.7 per share in a bid to consolidate ProSieben and build a pan-European broadcaster.

MFE-MediaForEurope has formally launched a takeover bid for German broadcaster ProSiebenSat.1, offering €5.7 per share, the minimum price allowed under German law.
The offer consists of 78% cash and 22% newly issued MFE Class A shares, valuing ProSieben at approximately €1.5 billion.
MFE has secured a binding agreement with a ProSieben shareholder to surpass the 30% ownership threshold, triggering a mandatory tender offer.
ProSieben's management has announced that it will carefully review the offer and provide a reasoned opinion in due course.
MFE aims to create a pan-European broadcaster to compete with U.S. streaming giants like Netflix and address challenges in the European TV market.