Chart Industries Confirms Acquisition by Baker Hughes for $210/Share in Cash

summarizeSummary

Chart Industries' annual report confirms its definitive acquisition by Baker Hughes for $210 per share in cash, with shareholder approval secured and closing anticipated in Q2 2026, despite a one-time termination fee impacting 2025 net income.

check_boxKey Events

• Definitive Merger Agreement Confirmed

  Chart Industries has a definitive merger agreement to be acquired by Baker Hughes Company for $210.00 per share in cash. Stockholders approved the merger on October 6, 2025, with closing expected in Q2 2026.

• Prior Merger Termination with Flowserve

  The company terminated a previous merger agreement with Flowserve Corporation on July 28, 2025, incurring a $266 million termination fee, of which Baker Hughes paid $258 million.

• Mixed Financial Performance for 2025

  Sales increased by 2.5% to $4.26 billion and gross profit by 3.5% to $1.44 billion. However, operating income decreased by 44.6% to $358.4 million and net income by 81.4% to $40.7 million, largely due to the Flowserve termination fee.

• Strong Backlog and Orders Growth

  Backlog increased by 21.5% to $5.89 billion and orders grew by 13.4% to $5.68 billion by the end of 2025, indicating robust future revenue potential.

auto_awesomeAnalysis

This annual report confirms the definitive merger agreement for Baker Hughes Company to acquire Chart Industries for $210.00 per share in cash. Stockholders approved the merger on October 6, 2025, with closing anticipated in the second quarter of 2026. This transaction fundamentally alters the investment thesis, providing a clear, near-term cash exit for shareholders. The company also reported mixed financial results for 2025, including a significant decrease in net income primarily due to a $266 million termination fee paid to Flowserve for a previously terminated merger agreement, largely covered by Baker Hughes. Despite this, strong order activity and increased backlog indicate positive underlying business momentum.