Abstract: A valve for diverting flow from the center of two concentric tubes to the annulus between the tubes or, operating in the reverse direction, for mixing fluids from concentric tubes into a common tube and for controlling the volume ratio of said flow consists of a toroidal baffle disposed in sliding engagement with the interior of the inner tube downstream of a plurality of ports in the inner tube, a plurality of gates in sliding engagement with the interior of the inner tube attached to the baffle for movement therewith, a servomotor having a bullet-shaped plug on the downstream end thereof, and drive rods connecting the servomotor to the toroidal baffle, the servomotor thereby being adapted to move the baffle into mating engagement with the bullet-shaped plug and simultaneously move the gates away from the ports in the inner tube and to move the baffle away from the bullet-shaped plug and simultaneously move the gates to cover the ports in the inner tube.