Baker Hughes to make $13.6bn ‘counter bid’ for Chart Industries, claims report
Global energy technology company Baker Hughes is preparing a $13.6bn all-cash offer to buy US cryogenic equipment company Chart Industries, according to a Financial Times report. The bid is lower than the $19bn proposed merger of equals between Chart Industries and Flowserve, announced in June, but would value Chart’s equity at $210 a share, a 22% premium to its market capitalisation, the report states. The report claims the deal will be announced “in the coming days”. It also said the Flowserve deal “had been terminated”. Shares in Chart rose 16.5% to $200 in after-hours trading on Monday. A deal would provide Baker Hughes with stronger links in growth sectors such as liquefied natural gas, nuclear energy and data centres – where year-to-date, its contract awards have topped $650m. Its adjusted net income for the second… Read More »Baker Hughes to make $13.6bn ‘counter bid’ for Chart Industries, claims report