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