Baker Hughes to Acquire Chart Industries

Cleary Gottlieb is representing Baker Hughes Company (Baker Hughes), which has agreed to acquire all outstanding shares of Chart Industries Inc. (Chart), a global manufacturer of highly engineered equipment and technologies used in the industrial gas, energy, and cryogenic sectors, for $210 per share in cash, or a total enterprise value of $13.6 billion.

Concurrently with its entry into a merger agreement with Baker Hughes, Chart terminated its existing merger agreement with Flowserve Corporation.

The transaction signed on July 28, 2025, and is expected to close mid-year 2026, subject to regulatory approvals and satisfaction of other customary closing conditions.

Baker Hughes is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, their innovative technologies and services are taking energy forward—making it safer, cleaner, and more efficient for people and the planet.

Chart is a global leader in the design, engineering and manufacturing of process technologies and equipment for gas and liquid molecule handling across a broad range of industrial and energy end markets.

For more information, please see the press release.