ProSieben Boards Recommend Sweetened Offer From Berlusconi’s MFE

ProSiebenSat.1 Media SE’s executive and supervisory boards recommended that shareholders accept MFE-MediaForEurope NV’s amended takeover offer, calling the new terms “adequate” and a sign of MFE’s long-term commitment, according to a statement Wednesday.

MFE lifted its bid for the German media company by boosting the stock component to 1.3 MFE shares from 0.4 MFE shares previously, while keeping the €4.48 per-share cash portion unchanged. The acceptance period for the amended MFE offer will expire on August 13.