Business · Companies · 4 hrs ago
Lmdv Media studies bid for publisher of Il Fatto Quotidiano
Lmdv Media is examining a possible takeover of Seif, the Italian company that publishes Il Fatto Quotidiano.
The investment group, linked to Leonardo Maria Del Vecchio, says it will review company information before deciding whether to make a voluntary offer for all its shares.
The proposed price is €0.286 per share, or about €7.15 million in total, if the review is positive.
The offer would need to secure at least 82.9% of voting capital, while Seif’s founders have said they do not want to sell their shares.
That threshold is needed to overcome Seif’s 17% ownership limit in its current rules.
Lmdv Media is also checking Seif’s finances and says early estimates suggest it may need up to €4 million in additional funding over the next two years.
Seif’s board is due to examine the situation, and Lmdv Media has not yet made a formal offer.
Lmdv Media has authorized a confirmatory due diligence review of Società Editoriale Il Fatto ahead of a possible voluntary offer for all its shares.
The proposed offer would be €0.286 per Seif share, for a total of about €7.15 million, subject to a positive review.
Lmdv says the offer would aim to delist Seif and support its growth while maintaining its editorial direction.
The offer would require acceptance representing at least 82.9% of voting capital, in part to overcome Seif’s 17% ownership limit.
Seif’s founding shareholders have said they do not intend to sell their shares or accept a possible offer.
- Who
- Lmdv Media, an investment company linked to the Lmdv Capital family office, is considering the offer. Seif publishes Il Fatto Quotidiano.
- What
- Lmdv has authorized due diligence ahead of a possible voluntary offer for all Seif shares, with the aim of delisting the company.
- When
- The review was announced on October 25, 2026.
- Where
- Seif is listed on Piazza Affari, the Milan stock exchange.
- Why
- Lmdv says it wants to integrate Seif’s digital and technological expertise and support the company’s growth and editorial continuity.
Lmdv Media
Seif founding shareholders
Offer purpose
Lmdv Media
Lmdv says the proposed offer could support Seif’s growth and editorial continuity and integrate its digital and technological expertise.
Seif founding shareholders
The founding shareholders say they are not interested in selling their shares or accepting a possible offer.
Lmdv Media acquired an 80% stake in Editoriale Nazionale, according to ANSA and Corriere della Sera.
Lmdv Media’s attempted acquisition of Gedi fell through, according to Corriere della Sera.
Lmdv Media announced it had authorized due diligence on Seif ahead of a possible offer.
Seif disclosed that its founding shareholders did not intend to sell their stakes or accept a possible offer.
- Proposed price
- €0.286 per Seif share
- Proposed total value
- €7,152,860
- Premium to October 23 price
- About 30%
- Minimum acceptance condition
- At least 82.9% of voting capital
- Seif ownership limit
- 17% of the company’s share capital
- Estimated funding need
- No more than €4 million, based on Lmdv Media’s preliminary estimates
3 sources
Leonardo Maria Del Vecchio vuole comprare Il Fatto. Gli azionisti fondatori: “Non siamo interessati a cedere le nostre quote”
Lmdv Media avvia una due diligence sulla Società Editoriale Il Fatto per un'opa
Leonardo Maria Del Vecchio vuole anche «Il Fatto»: Lmdv Media avvia la due diligence per l’Opa totalitaria
What people are saying
the offer would also be instrumental in pursuing Seif’s growth and strengthening, as well as maintaining its editorial line
we are not interested in selling our stake and therefore do not intend to accept any possible public tender offer that Lmdv Media might launch after the announced due diligence