Schneider agrees takeover bid for Shelly at €70 per share

Sept 24 (Reuters) – French industrial group Schneider ​Electric  has reached ‌a takeover agreement to buy smart ​device maker ​Shelly Group for €70 ⁠per share, the ​Bulgarian company ​said on Thursday.

The offer, subject to an ​acceptance threshold ​of 95% of share ‌capital, ⁠values Sofia-based Shelly at around €1.27 billion ($1.45 billion) excluding ​debt. ​Bloomberg ⁠News reported earlier on Thursday ​that the ​companies ⁠were nearing a deal.

Reporting ​by Danny ​Callaghan in Gdansk, editing ​by Milla Nissi-Prussak