Schneider Electric to Launch Bid for Shelly Group in $1.4 Billion Deal

By Dominic ChoppingSchneider 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 shar…