Mediaforeurope increased the consideration of thePublic purchase offer (opa) volunteer on the German CONTEREBENCE.1a project in which the Berlusconi family company believes a lot and which aims at the creation, long cradled by the family, of creating a Pan-European Broadcaster. Many the advantages of the operation, which will offer important synergies and a prize of a certain level for all shareholders.
The terms of the offer and the prize
Mfe wanted to raise the fee of the offer for German satellite TV, providing for a compensation in mixed formequal to 4.48 euros in Cash (unchanged compared to the previous offer) more 1.3 Actions Mfe Serie A. On the basis of the historical prices of the stock exchange of the Prosiebensat1 title and the average closing price of the MFE A in Stock Exchange, the offer of the offer is equal to 8.62 euros and incorporates a prize equal to:
- +22% Compared to the closing price of the Prosiebensat1 title of 25 July 2025 (7.04 euros) on the Frankfurt Stock Exchange;
- +23% compared to the price of the competing offer of PPF IM Ltd. published on 4 June 2025 (7.00 euros);
- +13% RInspecto at the average target price of the Prosiebensat1 title published on Bloomberg at 25 July 2025 (7.61 euros) based on the averages of analysts’ forecasts;
- +16% Compared to the average Target price of the Prosieben title indicated in the joint statement motivated by the Management Council and the Surveillance Council of Cereebensat1 published on 22 May 2025 in relation to the offer (7.44 euros);
- +34% Compared to the closing price of the Prosiebensat1 title of 25 March 2025 (last day of negotiation before the announcement of the MFE offer at 6.45 euros) on the Frankfurt Stock Exchange;
- +50% Compared to the average weighted price for the volume of the actions continued in the last 3 months until 25 March 2025 (5.74 euros);
- +56% Compared to the average weighted price for the volume of stock exchange of the Prosiebensat1 title in the last 6 months until 25 March 2025 (including) (5.53 euros).
Pier Silvio Berlusconi: “Price raised because we believe in the project”
“We decided to raise our offer on continuation. 1, not because the initial proposal was inadequate, but why We believe in the industrial project that we have supported for years as first shareholders. We continue to believe it, despite the results of Prosiebensat.1 make even more urgent to act and implement a new strategy “
Pier Silvio Berlusconi commented, Mfe-MediaForeurope’s CEO. “
“Ours is one industrial proposal, non -financial. We do not aim to total control, but to a flexibility that allows us to give a clear direction based on a common vision. We need a push to build what is still missing: a strong European group, with local roots and an adequate staircase to compete globally. Able to combine markets, strengthen the editorial offer and create new value for both viewers and investors “
he specified.
“THE advantages are objective: on the front of costson the front of technologies and above all on the front of revenues“
stressed Berlusconi, adding
“All Mfe’s shareholders will draw a significant benefit, with a growth of the profit by action greater than +50% and up to +80% in case of total adhesion to the offer”.
What advantages?
Mfe believes that “the close collaboration with Cereebensat.1 will lead to unlocking significant strategic advantages and to create value. The union of the two business, if and when it is achieved, deriving from the creation of the Combined Entity and from the consolidation of the ASSITs of Cereben will offer significant strategic advantages and will allow to promote an important value project for the Combined Entity mainly in the advertising, technology and data sectors “.
The expected effects from this value project are quantified up to 419 million euros at EBIT level on an annual basis within 4 years. They are also expected One-off and investment costs until 145 million euro. Following the improvement of the offer, it reads, “Mfe intends to carry out an additional in -depth analysis of the potential value projects and opportunities for revenues between Mfe and Cereben”.
