Chart Industries (GTLS) and Flowserve (FLS) are nearing an all-stock merger agreement that could be announced as soon as Wednesday, The Wall Street Journal’s Lauren Thomas reports. The combined entity would be worth roughly $19B, including debt, according to people familiar with the matter. Under the terms of the proposed deal, Chart shareholders would receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned, the people say, adding that Chart shareholders would own 53.5% of the combined company, while Flowserve shareholders would own 46.5%. The companies plan to bill the deal as a full merger of equals, Thomas writes.
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