Schneider Electric is nearing an agreement to acquire Bulgarian smart-device maker Shelly Group, Bloomberg News reported, citing people familiar with the matter. The reported offer of about €70 per share, equivalent to $79.65, would value Shelly at around €1.27 billion excluding debt. Earlier information said the companies had signed an investment agreement tied to the offer and valued Shelly at about €1.2 billion, or $1.37 billion, with a 95% acceptance threshold. Shelly shares closed Wednesday at €64.40, while Schneider shares were down 0.56%.