Chart Industries, Inc. Enters into Merger Agreement with Baker Hughes Company

On July 28, 2025, Chart Industries, Inc. ("Chart") entered into an Agreement and Plan of Merger (the "Merger Agreement") with Baker Hughes Company ("Baker Hughes") and Tango Merger Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of Baker Hughes. The Merger Agreement was unanimously approved by Chart's board of directors. Pursuant to the Merger Agreement, Merger Sub will merge with and into Chart, with Chart continuing as the surviving corporation and becoming a wholly owned subsidiary of Baker Hughes. At the effective time of the Merger, each share of Chart's common stock will be converted into the right to receive $210.00 in cash. The Merger is subject to customary closing conditions, including approval by Chart's stockholders and regulatory approvals. The Merger Agreement also includes provisions for the treatment of Chart's equity awards and contains customary representations, warranties, and covenants from both parties. Additionally, Chart terminated its prior merger agreement with Flowserve Corporation and agreed to pay a termination fee of $266 million, with Baker Hughes covering $258 million of this amount.