Shelly Group Directors Back Schneider Electric's Takeover Proposal

12:16 AM EDT, 10/06/2026 (MT Newswires) -- Shelly Group (SLYG.F) directors issued a statement of support for Schneider Electric's (SU.PA) cash offer of 70 euros per share for the company, according to a Monday release.+ Directors of the targeted Sofia, Bulgaria-based IoT and smart building systems provider deemed the French industrial technology company's proposal "fair and adequate." The statement of support also followed Freitag & Co.'s independent fairness opinion on Oct. 2 that the proposal is fair from a financial point of view. The offer remains subject to various conditions, including the acceptance of shareholders. The proposal will be opened for acceptances after the publication of the offer document, which still requires the approval of the Bulgarian Financial Supervision Commission.