Schneider Electric to Launch Bid for Shelly Group in $1.4 Billion Deal
By Dominic Chopping
Schneider Electric plans to launch a takeover bid for smart-device maker Shelly Group that values the company at around 1.2 billion euros ($1.37 billion).
The two companies said they have entered an investment agreement in connection with a 70-euro-a-share offer. Shelly Group shares closed Wednesday at 64.40 euros.
"Based on the information available to date, the board of directors has taken the preliminary view that a voluntary public takeover offer by the SE group at the above price would be in the interests of the company, its shareholders, employees and other stakeholders," Shelly said in a statement.
Schneider Electric said the acquisition would combine its technology offer across residential, retrofit and small commercial buildings with Shelly's software-led home energy platform.
The transaction is subject to customary regulatory approvals and is expected to close by the first quarter of 2027, Schneider said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 24, 2026 02:24 ET (06:24 GMT)
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