FinanceThe Recursiveabout 1 hour ago
Schneider Bids €1.2B for Shelly Group
4 min read
Schneider Electric agreed to buy Bulgarian smart home maker Shelly Group for €1.2 billion in cash, paying €70 per share, 27% above Shelly's €55.20 reference price. Founders Dimitar Dimitrov and Svetlin Todorov hold about 57%. The voluntary tender needs 95% acceptance plus Bulgarian and competition approval, with closing expected by end of Q1 2027.
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