MFE Ups ProSieben Bid to €2.4 Billion

MFE-MediaForEurope, controlled by Italy's Berlusconi family, has raised its takeover offer for German broadcaster ProSiebenSat.1, valuing the company at approximately €2.2–2.4 billion. The revised offer includes €4.48 in cash and 1.3 newly-issued MFE-A shares for each ProSiebenSat.1 share, up from 0.4 shares previously. ProSiebenSat.1's executive board welcomed the improved bid, seeing it as a sign of MFE's long-term commitment to a pan-European media project. The offer represents a notable premium over both MFE's earlier proposal and a rival bid from Czech investor PPF. Shares of ProSiebenSat.1 surged following the announcement, indicating investor optimism. The deal remains subject to formal review and approval by the company's executive and supervisory boards.