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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…
(Updates with expected deal closure in paragraph 2, premium and founders' stake in paragraphs 3-4, background in paragraph 5) Sept 24 (Reuters) — 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. The
France's Schneider Electric EURONEXT:SU said on Thursday it intended to launch a voluntary public takeover offer for Bulgarian smart-home device maker Shelly Group BSESOF:SLYG for €70 per share.The all-cash offer values Shelly at about €1.2 billion ($1.4 billion) and is expected to close by the fir…