Berlusconi Media Group Makes Takeover Bid For German Rival [Barron's]
PROSIEBENSAT1 MEDIA U/ADR (PBSFY)
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Company Research
Source: Barrons
MFE -- controlled by the family of late Italian prime minister Silvio Berlusconi, and formerly known as Mediaset -- wants to increase its 29.99-percent stake in ProSeibenSat.1 to a controlling share. It should offer around 5.70 euros per share of the German company, a source close to the deal told AFP. That is below the 6.53 euros per share ProSiebenSat.1 closed at on Wednesday after news of the bid sent the price soaring. MFE said it had already struck a binding deal with one of ProSiebenSat.1's shareholders that would result in it lifting its capital above 30 percent in any case. It is not the first time MFE -- as Mediaset -- has tried to buy ProSiebenSat.1. In 2003, Berlusconi, Mediaset's founder, tried to acquire the German company when it had collapsed and was put up for sale by its then-owner, the Kirch group. But the German government opposed the move. In 2006, Mediaset tried again, seeking to buy 50.5 percent of ProSiebenSat.1, but the company was bought by the inve
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