Berlusconi-Holding MFE pronounces takeover supply for ProSiebenSat.1 | EUROtoday

The PRO seven SAT.1 main shareholder Mediafore Europe, which belongs to the Berlusconi empire, has introduced a takeover supply for the German media group. “It is time to switch a gear higher,” mentioned MFE boss Pier Silvio Berlusconi.

“We believe that Pro Sieben Sat.1 needs a strong shareholder who can offer expertise and industry experience and thus actively contributes to his growth course,” he mentioned. The meant improve within the MFE share and the ensuing takeover supply are important to work concrete and constructively with Pro Sieben and “create value for all shareholders before it is too late”.

However, MFE, based mostly in Italy, solely desires to pay the statutory minimal worth for the assistant papers. That could be the volume-weighted three-month common course of the Pro seven Sat.1 share. Usually a kind of clear surcharge on the share worth is obtainable within the case of takeovers. However, the course has elevated considerably previously few months, pushed by hypothesis a few takeover by MFE.

The Italians wish to pay 78 p.c in money and the remainder in new shares. In addition, MFE introduced that an present shareholder of Pro Sieben Sat.1 had been concluded with an settlement on an assumption for a part of his papers.

This ensures that MFE will at all times maintain greater than 30 p.c of the share capital of Pro Sat.1 after the takeover supply has been accomplished. If this threshold is exceeded, MFE would have been obliged anyway to submit a takeover supply.

The response of the traders was adverse in opposition to the background and, opposite to the same old course euphoria, when a takeover supply was introduced. The Pro Sieben Sat.1 share not too long ago gave up three p.c on the buying and selling platform Tradegate in comparison with the Xetra closing course.

Pro Sieben Sat.1 himself introduced that the statutory minimal worth that MFE presents, corresponds to the volume-weighted common course of the Pro Sat.1 shares of the previous three months. You count on it to be 5.75 euros. The present closing worth of the Pro Sieben Sat.1 share was 6.53 euros. The Board of Directors and Supervisory Board of Pro Sieben Sat.1 would rigorously look at the supply after the publication of the supply doc after which submit their legally required, justified assertion.