Media For Europe (MFE) is a group that initiated a Public Procurement Offer (OPA) for 100% of the company. social capital Mediaset España, its Spanish subsidiary (an operation authorized by the CNMV yesterday, Thursday), is improving the originally announced valuation to Mediaset España’s shareholders, including the dividends they will receive. shareholders MFE itself, according to information published in CNMV.
MFE has announced that it offers a mixed price of delivery. 9 MFE type ‘A’ heads and EUR 3.72 in cash, equivalent to 4.5 type ‘A’ MFE titles and EUR 1.86 per share of Mediaset España.
It has also decided to postpone the said dividend payment to September 21, 2022 (in this case, September 19, 2022 is the old dividend date) after the conclusion of the proposal and to operate the mandatory dividend process, if any. Shareholders of Mediaset España who accepted the offer or transferred their shares Movements they receive the said dividend in the forced sale.
At this Friday’s meeting, the MFE Board of Directors agreed to propose its approval by the MFE. general assembly of shareholders Dividend of EUR 0.05 per MFE share to be distributed to both MFE’s A Shares and MFE’s B Shares, collected for collection on 29 June 2022.
Considering that the price of the first announced takeover bid consists of EUR 1.86 upfront and 4.5 A group MFE shares for each Mediaset share, the Mediaset shareholder participating in the takeover bid or forced sale In addition to 4.5 A-class shares of MFE, he will receive 1.86 euros in cash and the equivalent of 0.225 euros per Mediaset share (i.e. 2,085 euros per share).
MFE’s offer is for all of Mediaset España’s capital, but excluding 55.69% of the Spanish group that currently controls the company. With this, the offer effectively covers 44.31% of the Spanish subsidiary. 138.8 million shares.
The effectiveness of the offer depends on its acceptance as a minimum. 29.31% of Mediaset España’s capital – 91.8 million shares-, which represents 66.15% of the titles to which the offer is directed.
If the set targets have been achieved, the MFE will at least 85% of the capital and Mediaset España, which will require the delisting of all its shares on Spanish stock exchanges.
MFE has offered a number of bank guarantees to guarantee the operation. 258.3 million they guarantee full cash payment and the capital increase contract for the delivery of the shares is offered for a maximum of 624.4 million shares to be delivered to those who accept the offer.
The acceptance period of the offer is 30 calendar days from the stock market business day following the publication of the offer. first ad with the basic data of the proposal.