Published by Global Banking & Finance Review®
Posted on July 28, 2025
2 min readLast updated: January 22, 2026
Baker Hughes is set to acquire Chart Industries for $13.6 billion, surpassing Flowserve's bid. Chart's stock rose 17% after the news.
(Reuters) -Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries, edging out rival suitor Flowserve, the Financial Times reported on Monday, citing sources familiar with the matter.
A potential deal would displace an agreement Chart made in June to combine with flow control systems maker Flowserve in a $19 billion all-stock merger. That agreement has now been terminated, the FT reported.
Baker Hughes, Chart Industries and Flowserve did not immediately respond to Reuters requests for comment.
Chart's stock, which had closed at $171.65 on Monday, climbed more than 17% to $202 in after-market trading following the FT report.
Chart manufactures industrial equipment such as valves and measurement technology for gas and liquid molecule handling and had a market capitalization of $7.71 billion as of Monday's close, as per LSEG data.
The deal with Baker Hughes would value Chart's equity at $210 per share, a 22% premium to its market value, giving it an equity value of about $10 billion, the report said.
Baker Hughes' decision to make a higher bid for Chart forced the company's board to reconsider its deal with Flowserve, the FT said.
The deal was likely to be announced in the coming days, FT added, citing sources who warned that the agreement was not final and the plans could change.
Baker Hughes has been trying to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sectors.
(Reporting by Abu Sultan, Anusha Devang Shah; Editing by Tasim Zahid and Alan Barona)
Baker Hughes is nearing a $13.6 billion cash deal to acquire Chart Industries.
The potential acquisition by Baker Hughes displaces an earlier agreement Chart made with Flowserve for a $19 billion all-stock merger, which has now been terminated.
Following the report, Chart's stock climbed more than 17% from $171.65 to $202 in after-market trading.
The deal values Chart's equity at $210 per share, which is a 22% premium to its market value.
Baker Hughes is looking to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sectors.
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