Schneider Electric proposes €70 cash takeover of Shelly Group
Shelly Group has entered into an investment agreement with a Schneider Electric subsidiary that sets out terms for a voluntary public tender offer at EUR 70.00 per share, valuing Shelly at approximately EUR 1.2 billion and representing a 27% premium to the unaffected reference price. The board and both founders, who together hold about 57% of shares, support the intended offer; one founder will tender and reinvest, and another will sell in two tranches with one tranche subject to merger-control clearance. The offer awaits FSC clearance, a 95% minimum acceptance threshold and expected closing in Q1 2027, with Schneider signalling intent to keep Shelly's headquarters and workforce in Bulgaria for at least three years.
Schneider Electric intends to acquire Shelly Group pending approvals.
Context
Shelly grew from a device maker to a software-led platform. The board and founders support Schneider Electric's intended offer. Regulators must clear the offer and closing is expected by Q1 2027.
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