Italian media company MFE-MediaForEurope has officially opened the acceptance period for its voluntary public takeover offer for German broadcaster ProSiebenSat.1, following approval from Germany’s Federal Financial Supervisory Authority (BaFin).
The offer is being made at the minimum price allowed under German takeover law and includes an exchange of newly issued MFE A shares. Shareholders can now review the terms of the offer, which are detailed in the published offer document.
MFE, already the largest single shareholder in ProSiebenSat.1, announced its intentions in March to increase its influence in the German broadcaster, followed by details on the offer in April. The offer is part of MFE’s broader strategy to build a pan-European media group capable of competing with global streaming platforms.
While MFE describes the offer as friendly, the German broadcaster has not formally backed the bid. Analysts say the offer could mark a turning point for ProSiebenSat.1, which has faced leadership changes and strategic uncertainty in recent years.
This move comes as ProSiebenSat.1 announced plans to cut around 430 full-time positions. The company stated that the job cuts would be carried out through a voluntary program to avoid compulsory redundancies. The decision reflects the company’s efforts to streamline operations and focus on its core entertainment business, particularly the streaming platform Joyn, which was fully acquired in 2022 and has since been integrated as a key element of the company’s strategic direction.
