ProSiebenSat.1 Backs MFE Takeover Attempt After Improved Bid

In a slightly unexpected turn of events, Germany’s ProSiebenSat.1 Media is now hot on MediaForEurope (MFE)’s takeover bid. Both the executive and supervisory boards of the Unterföhring-based business have recommended shareholders accept MFE’s latest voluntary public takeover offer, which valued ProSieben shares at about €8.15 ($9.43) in total. The offer valued ProSieben at around €2B. […]