Baker Hughes to Acquire Chart Industries in $13.6 Billion Deal

Baker Hughes is approaching a significant $13.6 billion cash acquisition of Chart Industries, outpacing competitor Flowserve. The acquisition aims to solidify Baker Hughes' expansion in natural gas and LNG sectors. The finalized deal could present a 22% premium on Chart's current market value, valuing it at around $10 billion.

Baker Hughes is gearing up to finalize a monumental $13.6 billion cash acquisition of Chart Industries, overshadowing competition from Flowserve, according to sources cited by the Financial Times. This possible transaction could replace Chart Industries' prior June agreement with Flowserve for an all-stock merger valued at $19 billion.

The proposed acquisition places Chart Industries, a key manufacturer of industrial equipment used in gas and liquid molecule management, under Baker Hughes' umbrella. As per LSEG data, Chart had a market capitalization of $7.71 billion as of Monday, suggesting a 22% premium from its current market value in this deal, elevating its equity estimation to $10 billion.

An official announcement of this potential acquisition is expected shortly, though sources caution that it remains tentative. Baker Hughes' strategy aims to utilize its robust industrial and energy technology resources to bolster growth and further penetrate the natural gas and LNG markets.

(With inputs from agencies.)