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yesterday

Baker Hughes Agrees to Acquire Chart Industries for $13.6 Billion

All-cash offer at $210 per share values Chart at a 22% premium, triggers a $266 million break fee for Flowserve; closing is expected by mid-2026 pending regulatory approval.

The acquisition of Chart by Baker Hughes comes as the Big 3 oilfield services companies look to further expand into the growing liquefied natural gas industry.
The logo of energy services firm Baker Hughes is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo
Image
Illustration; Source: Baker Hughes

Overview

  • Baker Hughes will pay $13.6 billion in cash to purchase Chart Industries at $210 per share, representing a 22% premium over the prior closing price.
  • The deal nullifies Chart’s planned $19 billion all-stock merger with Flowserve, which will receive a $266 million termination fee.
  • Chart’s shares surged about 16% on the announcement, while Baker Hughes stock dipped slightly in trading.
  • The acquisition enhances Baker Hughes’ Industrial & Energy Technology segment by adding Chart’s LNG, hydrogen and data center equipment expertise.
  • Subject to customary approvals, the transaction is slated to close by mid-2026, underscoring accelerating consolidation in lower-carbon energy services.