Schneider Electric to Launch Bid for Shelly Group in $1.4 Billion Deal
Schneider Electric is launching a $1.4 billion bid to acquire smart device firm Shelly Group. The two companies have entered into an investment agreement regarding a voluntary public takeover. This acquisition follows reports from Bloomberg and the Wall Street Journal that Schneider Electric was nearing a deal to purchase the firm. The announcement has coincided with a surge in Shelly stock prices.
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- ✓ Schneider Electric is launching a bid for Shelly Group valued at $1.4 billion.
- ✓ Shelly Group and Schneider Electric signed an investment agreement for a voluntary public takeover.
- ✓ Shelly Group is a smart device firm.
What changed
Shelly Group confirmed it entered an investment agreement with Schneider Electric for a voluntary public takeover.
Live updates
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Schneider Electric to Acquire Shelly Group in $1.4 Billion Deal
Schneider Electric is launching a $1.4 billion bid to acquire smart device firm Shelly Group. The two companies have entered into an investment agreement regarding a voluntary public takeover. This acquisition follows reports from Bloomberg and the Wall Street Journal that Schneider Electric was nearing a deal to purchase the firm. The announcement has coincided with a surge in Shelly stock prices.
Why it matters
Shelly Group specializes in smart devices. This move integrates Shelly's technology into Schneider Electric's energy management and automation portfolio.
What is confirmed
- Schneider Electric is launching a bid for Shelly Group valued at $1.4 billion.
- Shelly Group and Schneider Electric signed an investment agreement for a voluntary public takeover.
- Shelly Group is a smart device firm.
What to watch next
- Regulatory approval of the takeover
- Final terms of the public bid
- Official closing date of the acquisition
confidence 100%Sources used for this update (5)
- wsj.com — Schneider Electric to Launch Bid for Shelly Group in $1.4 Billion Deal
- Reuters — Schneider Electric nears deal for smart device firm Shelly, Bloomberg News reports
- Investing.com — Why is Shelly stock surging today?
- PropTech Connect — Shelly Group Has Entered Into an Investment Agreement With Schneider Electric on the Intended Voluntary Public Takeover
- Bloomberg.com — Schneider to Buy Smart Device Firm Shelly in $1.4 Billion Deal
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