Chart Industries’ shareholders approve acquisition by Baker Hughes

At the special meeting of Chart shareholders, a majority of the outstanding shares of Chart common stock were voted in favour of the adoption of the definitive merger agreement. Under the terms of the merger agreement, Chart shareholders will be entitled to receive US$210 per share of common stock in cash upon the completion of the transaction.

“We are pleased to deliver this transaction to Chart shareholders and thank them for their support,” said Chart President and CEO Jill Evanko. “With this important milestone now achieved, we look forward to moving forward with the completion of the transaction.”

The final voting results of Chart’s special meeting will be reported in a Form 8-K filed by Chart with the US Securities and Exchange Commission. The transaction is expected to be completed by mid-year 2026, subject to customary conditions and the receipt of applicable regulatory approvals.

In a statement, Baker Hughes said that the acquisition of Chart is one of several steps that is accelerating the company’s strategy of becoming a leading energy and industrial solutions provider focused on delivering substantial value to shareholders. Other recent steps have included the pending sale of the Precision Sensors & Instrumentation product line and the Surface Pressure Control joint venture with Cactus, and the acquisition of Continental Disc Corp.

The acquisition of Chart will transform Baker Hughes’ Industrial & Energy Technology (IET) segment, bolstering the company’s capabilities across a wider array of energy and industrial applications. The transaction will expand Baker Hughes’ presence in high-growth markets, including LNG, data centres, and clean energy, and is expected to further support resilient earnings and cash flow.

“We are pleased that Chart shareholders have approved our pending acquisition as we aim to capitalise on the momentum of both companies,” said Chairman and Chief Executive Officer Lorenzo Simonelli. “Our strategy has delivered total shareholder returns of 340% over the past five years, 150% over the past three years and 38% in the last 12 months, significantly outperforming our peers. With the pending acquisition of Chart, we are undertaking a comprehensive evaluation of our capital allocation focus, business, cost structure and operations, with a view toward delivering additional value for our shareholders.”

Read the article online at: https://www.hydrocarbonengineering.com/refining/07102025/chart-industries-shareholders-approve-acquisition-by-baker-hughes/