Baker Hughes will acquire Chart Industries at $210 per share—a 22% premium—boosting Chart’s stock by over 16%, while Flowserve, unable to match the bid, exits with a $266 million breakup fee and a 4% share gain
Baker Hughes has announced a definitive agreement to acquire Chart Industries in a $13.6 billion all-cash transaction, including debt, marking a significant move to strengthen its footprint in LNG, data centers, and decarbonization technologies. The acquisition allows Baker Hughes to broaden its industrial and energy technology offerings, aligning with its strategy to tap into emerging sectors beyond traditional oilfield services.
Under the terms of the deal, Baker Hughes will pay $210 per Chart share, representing a 22% premium over Chart’s last closing price. The announcement caused Chart’s stock to jump over 16% in premarket trading to $199.50.
The acquisition comes shortly after Chart terminated a previous merger agreement with Flowserve, which declined to match Baker Hughes’ superior bid. As a result, Flowserve will receive a $266 million breakup fee. Flowserve’s shares rose over 4% following the news.
The equity value of the deal is estimated at around $9.44 billion, and the transaction is expected to close by mid-2026, subject to regulatory approvals and closing conditions. Baker Hughes anticipates achieving $325 million in annualized cost synergies by the end of the third year post-acquisition.
Chart Industries specializes in equipment for handling gases and liquids, including valves and measurement technologies, making it a strategic fit for Baker Hughes’ expanding focus on energy transition solutions. The acquisition also reflects ongoing consolidation in the energy and industrial equipment sectors as companies reposition for long-term growth in a lower-carbon economy.
