Chart Industries Inc. has announced that, prior to entering into the definitive agreement with Baker Hughes Co. that has been announced separately, the company and Flowserve Corporation have terminated their previously announced merger agreement.
The transaction with Baker Hughes follows a determination by the Chart Board of Directors, with the assistance of its financial and legal advisors, that an acquisition proposal received from Baker Hughes constitutes a ‘Superior Chart Proposal’ under the terms of its merger agreement with Flowserve.
Wells Fargo is serving as financial advisor and Winston & Strawn LLP is serving as legal advisor to Chart. Collected Strategies is serving as Chart’s strategic communications advisor.