Schneider to launch €1.2 billion takeover bid for smart device firm Shelly
FRANCE: France’s Schneider Electric said on Thursday it intended to launch a voluntary public takeover offer for Bulgarian smart-home device maker Shelly Group for €70 per share.
Schneider Electric has announced its intention to launch a voluntary public takeover bid for Bulgarian smart-home device maker Shelly Group, offering €70 per share. The all-cash offer values Shelly at approximately €1.2 billion, representing a 27% premium to the company's unaffected reference price as of July 28 and a 22% increase over its current reference price.
The deal, expected to close in the first quarter of 2027, would see the two founders of Shelly, Dimitar Dimitrov and Svetlin Todorov, selling roughly 57% of the company's share capital. The acquisition is anticipated to strengthen Schneider's position in the connected home market, where it competes with established players such as Legrand, Plejd, and ABB.
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