Baker Hughes (BKR) is close to a $13.6B cash deal to acquire Chart Industries (GTLS), gatecrashing an earlier pact to merger with Flowserve (FLS), the Financial Times’ Oliver Barnes and James Fontanella-Khan report, citing people familiar with the matter. Such a deal would give the U.S. oil and gas equipment maker a stronger foothold serving major industries like liquefied natural gas, nuclear energy, and data centers, the authors note. The deal values Chart’s equity at a roughly 22% premium to its market capitalization, giving it an equity value of roughly $10B, the authors say.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLS:
- FLS Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Flowserve price target raised to $63 from $59 at Stifel
- Flowserve price target raised to $65 from $58 at Citi
- Flowserve’s Strategic Growth and Profitability Boost through GTLS Integration
- Flowserve well positioned for solid earnings, says Citi