NEW YORK, October 6, 2025 – Chart Industries (GTLS.N) shareholders approved Baker Hughes’ 13.6 billion all-cash acquisition offer, clearing a major hurdle for the deal expected to close by mid-2026 1. The transaction will strengthen Baker Hughes’ position in the rapidly expanding liquefied natural gas and industrial gas equipment markets.
- Shareholders approve 210 per share all-cash offer
- Deal valued at 13.6 billion including debt
- Transaction expected to close by mid-2026
Deal Terms and Market Context
Under the agreement announced in July, Chart shareholders will receive 210 in cash per share upon completion 2. The purchase price represents an enterprise value of 13.6 billion and approximately nine times Chart’s consensus 2025 EBITDA on a fully synergized basis 3.
Baker Hughes’ offer topped a previously agreed merger proposal that Chart had accepted earlier this year. The deal reflects the growing consolidation in energy services as companies seek to capitalize on increased demand for LNG infrastructure and industrial gas solutions.
Strategic Rationale
The acquisition positions Baker Hughes to benefit from rising demand in two key growth areas: LNG facilities and data center cooling systems. Chart Industries specializes in cryogenic equipment and engineered systems used in energy and industrial applications 4.
Baker Hughes views the deal as part of its strategy to accelerate energy transition capabilities while expanding its industrial footprint. The combined entity will have enhanced scale in equipment manufacturing and services for the growing global LNG market.
Regulatory and Timeline Considerations
With shareholder approval secured, the transaction now awaits remaining regulatory clearances and customary closing conditions. Both companies expect the deal to close by the middle of 2026, subject to these approvals 5.
The extended timeline reflects the significant size of the transaction and the comprehensive regulatory review process required for deals of this magnitude in the energy sector.
Market Implications
The successful shareholder vote removes a key uncertainty that had been weighing on both companies’ stock performance. For Chart Industries investors, the deal provides immediate liquidity at a substantial premium to recent trading levels.
Baker Hughes expects the acquisition to be accretive to earnings and generate significant synergies through operational efficiencies and expanded market reach. The company plans to integrate Chart’s specialized manufacturing capabilities with its global service network.
Not investment advice. For informational purposes only.
References
1“Chart Industries backs sale to Baker Hughes for 13.6 billion”. Reuters. Retrieved October 6, 2025.
2“Chart Industries backs sale to Baker Hughes for 13.6 billion”. Investing.com. Retrieved October 6, 2025.
3“Acquisition of Chart Industries Conference Call Prepared Remarks”. Baker Hughes. Retrieved October 6, 2025.
4“Baker Hughes advances 13.6 billion Chart acquisition following shareholder approval”. World Oil. Retrieved October 6, 2025.
5“Chart shareholders agree to 13.6 billion acquisition by Baker Hughes”. Upstream Online. Retrieved October 6, 2025.