Schneider to launch €1.2 billion takeover bid for smart device firm Shelly

By Reuters News

- France's Schneider Electric SCHN.PA said on Thursday it intended to launch a voluntary public takeover offer for Bulgarian smart-home device maker Shelly Group SLYG.BB for €70 per share.

The all-cash offer values Shelly at about €1.2 billion ($1.4 billion) and is expected to close by the first quarter of 2027, Schneider said in a statement.

The offer price represents a 27% premium to Shelly's unaffected reference price as of July 28, and is 22% above its current reference price.

Shelly's two founders, Dimitar Dimitrov and Svetlin Todorov, hold roughly 57% of the share capital between them. Both have conditionally agreed to sell.

The deal would push Schneider deeper into the connected home market, where it competes with French rival Legrand LEGD.PA, Sweden's Plejd PLEJD.TE and Switzerland's ABB ABBN.S.

($1 = 0.8790 euros)

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