Schneider Electric nears deal for smart device firm Shelly, Bloomberg News reports

By Reuters News

Sept 24 (Reuters) - French industrial technology firm Schneider Electric SE SCHN.PA is nearing an agreement to acquire Shelly Group SE SLYG.BB, a maker of smart devices for the home, Bloomberg News reported on Thursday, citing people familiar with the matter.

Schneider has been discussing an offer of about €70 ($79.65) a share, that would value Bulgaria-based Shelly Group at around €1.27 billion, excluding debt, the report added.


($1 = 0.8789 euros)

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