Fund Manager Reade Griffith buys stake in Mediaset Espana amid takeover
MADRID (Reuters) – 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.
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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.
(Reporting by Inti Landauro; Editing by Kirsten Donovan)