Overview

• Shareholders voted to accept $210 per share in cash, with final tallies to be filed on a Form 8-K.
• Baker Hughes plans to finance the purchase with a Goldman Sachs and Morgan Stanley bridge loan to be refinanced with long-term debt.
• The buyer targets about $325 million in annual cost synergies within three years of closing.
• The transaction supersedes Chart’s earlier stock-based merger with Flowserve, which will receive a $266 million termination fee.
• Chart’s cryogenic and process-equipment portfolio will bolster Baker Hughes’ push into LNG, hydrogen, carbon capture and data-center cooling, with Chart expected to remain a distinct brand inside the Industrial & Energy Technology division.