Prosieben to members: 'Adhere to the Mfe offer, adequate proposal'

Prosieben's board of directors and supervisory board recommend that shareholders 'accept the modified takeover offer' of Mfe-Mediaset, which at current stock exchange values is approximately EUR 8.07 between cash and stock components.

The boards of the German group, after the top management had expressed a positive opinion, 'welcome the modified offer from Mfe, whose 'long-term investment and commitment to the company' they emphasise. The recommendation is based on 'the realisation of cost synergies that require a full legal integration of ProSiebenSat.1 into Mfe'.

Both boards emphasise that 'each shareholder of ProSiebenSat.1 should make an independent decision on the acceptance of Mfe's revised offer, also with regard to the number of shares for which to subscribe, taking into account their overall situation, their financial, tax and personal circumstances and their expectations on the future development of the value and market price of the ProSiebenSat.1 shares and the Mfe-A shares'.

Mfe's opas will expire on 13 August and puts 4.48 euro cash and 1.3 Mfe class A shares in the pot for each Prosiebensat share.