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Fund Manager Reade Griffith buys stake in Mediaset Espana amid takeover

Fund Manager Reade Griffith buys stake in Mediaset Espana amid takeover
Fund Manager Reade Griffith buys stake in Mediaset Espana amid takeover   -   Copyright  Thomson Reuters 2022
By Reuters

MADRID – Fund manager Reade Griffith bought a minority stake in Spanish broadcaster Mediaset Espana after its parent company MediaForEurope launched a public takeover offer, a filing to the Spanish stock regulator showed.

Griffith, who heads Amsterdam-listed investment fund Tetragon’s Investment Committee, owns a 1.022% stake in Mediaset Espana through financial instruments since Monday, the regulator said on its website.

MediaForEurope, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi and formerly known as Mediaset, last month announced a cash and share offer for the 44% stake in Mediaset Espana it does not already own.

The Italian company in mid March offered 4.5 of its ordinary A shares and 1.860 euros in cash for each Mediaset Espana share, or about 5.613 euros per share at the time.

Griffith also co-founded hedge fund Polygon in the early 2000s which invested in other Spanish companies that were also targeted by takeover bids.