Baker Hughes Acquires Chart Industries in a Monumental $13.6B Energy Deal
Oilfield services titan, Baker Hughes, made a groundbreaking announcement on Tuesday about its plans to acquire Chart Industries in a colossal $13.6 billion all-cash deal. This deal, which includes debt, has outbid its rival, Flowserve, thereby expanding Baker Hughes’ footprint in the liquefied natural gas, data centers, and decarbonization markets.
The deal offers Chart Industries shareholders an attractive $210 per share, marking a 22% premium over the previous close. This strategic move positions Baker Hughes to capitalize on the burgeoning demand for energy infrastructure and technology solutions. Following the determination that Baker Hughes’ proposal was “superior,” Chart Industries terminated its prior merger agreement with Flowserve. As a result, Flowserve will receive a $266 million breakup fee.
By the end of the third year, Baker Hughes anticipates $325 million in annualized cost synergies. The transaction is projected to close by mid-2026, subject to regulatory approvals and shareholder consent. Chart Industries, a global player, operates 65 manufacturing locations with over 50 service centers worldwide and reported approximately $1.0 billion in adjusted EBITDA in 2024.
Source: CNBC