Schneider Electric announces takeover bid valuing Shelly Group at €1.2 billion

An all-cash offer at €70 per share

Schneider Electric announced on September 24, 2026 its intention to file a voluntary public takeover offer targeting Shelly Group, a provider of IoT and smart building solutions. The offer, entirely in cash, covers all Shelly shares not yet held by the group, at a price of €70 per share.

This price represents a premium of 27% compared to Shelly's unaffected reference price as of July 28, 2026 (€55.2 per share) and a premium of 22% compared to the current reference price of €57.5 per share as of September 23, 2026. The reference price corresponds to the volume-weighted average calculated over six months on the most active market.

The offer will be officially launched by SE 2026 A subsidiary, which is part of the Schneider Electric group.

An acceptance threshold of 95% and the support of founders

The offer is subject to a minimum acceptance threshold of 95% of outstanding share capital, a condition necessary for its success and allowing Schneider Electric to proceed with a mandatory squeeze-out followed by delisting. The two founders, Dimitar Dimitrov and Svetlin Todorov, who together hold approximately 57% of the company, have agreed conditionally to transfer their shares.

Dimitar Dimitrov, whose stake represents approximately 29% of the capital, is expected to contribute his shares and reinvest part of the proceeds alongside Schneider Electric for a period of at least three years. The group has also agreed to acquire approximately 28% of the capital from Svetlin Todorov, held personally and through his company Salisto Holdings.

The offer will be filed with the Bulgarian Financial Supervision Commission (FSC) for review. Completion, subject to customary regulatory approvals, is expected by the first quarter of 2027.