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July 13, 2020, 2:16 a.m. EDT

Alfa Laval offers €1.73 billion to buy Neles

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By Ian Walker

Alfa Laval AB said Monday that it has agreed to a 1.73 billion-euro ($1.95 billion) cash tender offer for Neles Corp.

Under the offer, accepting Neles shareholders will get EUR11.50 for each share held, a 33% increase on its closing share price Friday.

Neles focuses on flow-control solutions and services and started trading as an independent company on July 1 following its demerger from Metso Corp.

Write to Ian Walker at ian.walker@wsj.com

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