Story thread · 2 reports / 2 sources

French Giant Schneider Electric in Talks with Bulgarian Tech Company Shelly for Potential Buyout

bta.bg · 13dShare

The Bulgarian technology company Shelly Group is in preliminary talks with the French corporation Schneider Electric SE regarding a potential commercial offer for the company's shares, Shelly reported on Wednesday. There is no certainty that these discussions will lead to an offer being made, nor regarding the terms or timing of any such offer, should one be made. Shelly specified: "A further announcement will be made when and if necessary, in accordance with the applicable regulatory requirements." Earlier Wednesday, Bloomberg reported that the French company is in talks to acquire Shelly at a price of around EUR 70 per share. As a result of this news, the share price of Shelly, which is traded on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange, began to rise. At the time of writing, the company's shares were up by over 10% to EUR 64.4 each on the Frankfurt Stock Exchange, while on the Bulgarian Stock Exchange the daily increase stood at nearly 6%.

First report: Schneider Electric in Talks to Buy Smart Device Maker Shelly — bloomberg.com, 13d