PPF IM Ltd has announced it is maintaining its public acquisition offer for ProSiebenSat.1 Media SE.
Acknowledging the increased offer by MediaForEurope (MFE), the company stated it is maintaining what it called its “best and final offer” to shareholders at €7 per share until 13th August 2025, with payment of the all cash offer expected no later than 28th August.
PPF said its offer provides an immediate and certain opportunity for shareholders to monetise their investments, comparing it favourably with that of the MFE group which, it said, lacks certainty over the value of the share component in its offer. Berlusconi-owned MFE launched a €1.3 billion bid for ProSiebenSat in March with an improved bid raising the stock component last month.
Kasper Taczek, investment director at PPF Group, said, “We are pleased that our Offer triggered a significantly improved offer by MFE creating more value for all ProSiebenSat.1 shareholders. However, we ask shareholders to weigh their options very carefully because the two offers differ substantially. MFE A shares have been relatively illiquid in the past, and it is uncertain if shareholders can realise their full implied value at the time of sale. We are convinced that our Offer compares favourably, because we offer a superior cash component ( €7 versus €4.48) and we regard the transformation of an independent ProSiebenSat.1 as the most viable path to value creation for outstanding shareholders.”
The company stated all regulatory conditions for its offer have been met.
