Chart shareholders approve acquisition by Baker Hughes

ATLANTA - Chart Industries, Inc. (NYSE:GTLS) shareholders have voted to approve the company’s acquisition by Baker Hughes (NASDAQ:BKR), a $47.8 billion market cap energy technology company currently trading near its 52-week high, according to a press release statement issued Monday.

At a special meeting held today, a majority of Chart’s outstanding common shares were cast in favor of adopting the definitive merger agreement. Under the terms of the deal, Chart shareholders will receive $210.00 per share in cash once the transaction is completed.

"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 acquisition is expected to be finalized by mid-year 2026, pending customary conditions and regulatory approvals.

Chart Industries is a manufacturer of process technologies and equipment for gas and liquid molecule handling across various sectors including power, water, food, and industrial applications. The company operates 65 manufacturing locations and more than 50 service centers globally.

The final voting results from the special meeting will be reported in a Form 8-K filing with the U.S. Securities and Exchange Commission.

In other recent news, Baker Hughes has secured several significant contracts and agreements, highlighting its active role in the energy sector. The company announced it will supply liquefaction equipment for Sempra Infrastructure’s Port Arthur LNG Phase 2 project in Texas, which includes four Frame 7 gas turbines and eight centrifugal compressors. This project aims to support a nameplate capacity of approximately 13 million tonnes per annum. Additionally, Baker Hughes has won a contract from Petrobras to supply up to 50 subsea tree systems for offshore oil and gas fields in Brazil. This agreement also involves providing topside control cabinets for monitoring and controlling subsea equipment. Furthermore, Baker Hughes has extended its multi-year agreement with Petrobras to deploy its Blue Marlin and Blue Orca stimulation vessels in Brazil’s offshore fields. In another development, Stifel has reiterated a Buy rating on Baker Hughes stock, citing the company’s improved margin profile. Lastly, Baker Hughes will provide main liquefaction equipment for Train 4 of NextDecade’s Rio Grande LNG facility in Texas, supporting an additional production capacity of approximately 6 million tonnes per annum.

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