Schneider Bids 1.2 Billion Euros for Shelly
Schneider Electric announced a voluntary public takeover offer for Bulgarian smart home device maker Shelly Group. The all cash deal values Shelly at approximately 1.2 billion euros and has the backing of the company founders.
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SCHNEIDER ELECTRIC SE intends to launch a voluntary public takeover offer for Bulgaria smart-home device maker SHELLY GROUP SE for €70 per share, valuing the company at about €1.2B. The all-cash bid represents a 27% premium over Shelly's unaffected reference price from July. The acquisition expands the industrial group's residential technology portfolio.
