The top management of Prosiebensat – Germany's second largest commercial TV broadcaster – has had a change of heart and, in a surprise move, has accepted Mediaset's offer, recommending that shareholders hand over their shares to the Italian company founded by Silvio Berlusconi. This is a decisive turning point for the group now led by Pier Silvio Berlusconi, after almost five years of disagreement over strategic decisions with the Prosieben board. Mediaset is the largest shareholder with 29.9% of the voting rights. In a statement released yesterday, Prosieben's board announced that it had “welcomed” Mediaset's move, emphasizing “the long-term investment and commitment to the company”. In the statement, the German broadcaster's boards explained that they had recommended acceptance “on the assumption that recurring annual cost synergies of approximately 150 million euros can be achieved”. Now that top management has given the green light, the Italian takeover bid — which could rise by more than 50% — will expire on August 13, marking a key deadline for the operation.