Chart shareholders approve $13.6B acquisition by Baker Hughes

[Baker Hughes office building in Houston, Texas, USA.]
JHVEPhoto/iStock Editorial via Getty Images

Chart Industries (NYSE:GTLS [https://seekingalpha.com/symbol/GTLS]) said Monday its shareholders voted to approve [https://seekingalpha.com/pr/20255288-chart-industries-shareholders-approve-acquisition-by-baker-hughes] the company’s acquisition [https://seekingalpha.com/news/4473179-baker-hughes-to-buy-chart-industries-for-136b-flowserve-terminates-previous-deal] by Baker Hughes (NASDAQ:BKR [https://seekingalpha.com/symbol/BKR]) at a special meeting of Chart shareholders.

Under the deal terms, Chart (NYSE:GTLS [https://seekingalpha.com/symbol/GTLS]) shareholders will be entitled to receive $210/share in cash upon the completion of the transaction, expected in mid-year 2026, pending regulatory approvals.

Baker Hughes (NASDAQ:BKR [https://seekingalpha.com/symbol/BKR]) said [https://seekingalpha.com/pr/20255365-baker-hughes-provides-shareholder-update] the acquisition will expand its presence in high-growth markets, including LNG, data centers, and clean energy, and is expected to further support resilient earnings and cash flow.

The company said the deal comes as it looks to accelerate a strategy focussing on growth in its industrial and energy technology division, and follows recent agreements to buy [https://seekingalpha.com/news/4458385-baker-hughes-to-buy-pressure-management-firm-continental-disc-in-540m-deal] safety ciritical pressure management solutions provider Continental Disc for $540 million and sell [https://seekingalpha.com/news/4456498-crane-to-buy-baker-hughes-precision-sensors-and-instrumentation-unit-in-106b-deal] its precision sensors and instrumentation product line to U.S. industrial products manufacturer Crane for more than $1 billion.

Chart (GTLS [https://seekingalpha.com/symbol/GTLS]) generated $4.2 billion in revenue and $1 billion in adjusted EBITDA in 2024, and the company operates 65 manufacturing locations with more than 50 service centers globally.

MORE ON BAKER HUGHES

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* Baker Hughes: This Massive Deal For Chart Industries Makes Sense [https://seekingalpha.com/article/4806004-baker-hughes-this-massive-deal-for-chart-industries-makes-sense]
* Baker Hughes: Data Center And LNG Optimism Builds (Rating Downgrade) [https://seekingalpha.com/article/4804379-baker-hughes-data-center-and-lng-optimism-builds-downgrade]