Sweden’s Alfa Laval Agrees to Buy Neles in $2 Billion Deal

Swedish engineering giant Alfa Laval AB agreed to buy Neles Oyj in a deal that values the Finnish valve maker at roughly $2 billion, setting a price that’s high enough to potentially fight off any counter bids.

After striking a so-called combination agreement with Neles, Alfa will make a voluntary recommended public cash tender offer for all issued and outstanding shares, excluding those held by Neles or any of its subsidiaries, according to a statement on Monday.