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Baker Hughes to Acquire Chart Industries for $13.6 Billion
ByAinvest
Saturday, Aug 2, 2025 3:19 pm ET1min read
Baker Hughes has agreed to acquire Chart Industries for $13.6 billion in an all-cash deal. AbbVie has signed a deal to acquire Horizon Therapeutics for $30 billion, while Palo Alto Networks has agreed to buy CloudGenix for $420 million. McEwen has acquired Quebec-based gold and silver miner, Essmet.
Baker Hughes (NASDAQ: BKR) has agreed to acquire Chart Industries (NYSE: GTLS) for $13.6 billion in an all-cash deal. The acquisition, announced on July 29, 2025, positions Baker Hughes as a leading energy and industrial technology company, leveraging Chart's differentiated capabilities in process technologies and equipment for gas and liquid molecule handling [1].The deal, valued at $210 per share, represents a total enterprise value of $13.6 billion. Chart Industries generated $4.2 billion in revenue and $1.0 billion in adjusted EBITDA in 2024, operating 65 manufacturing locations and over 50 service centers globally [1].
Baker Hughes Chairman and CEO Lorenzo Simonelli stated, "This acquisition is a milestone for Baker Hughes, demonstrating our strong financial execution and strategic focus. Chart's products and services are highly complementary to our offerings, positioning us to deliver distinctive and efficient end-to-end lifecycle solutions for our customers" [1].
Chart Industries President and CEO Jill Evanko expressed enthusiasm for the deal, highlighting the company's engineering-focused culture and commitment to operational excellence. "The Baker Hughes team shares our culture and commitment to excellence. Together, we can help our customers solve critical energy access and sustainability needs," she said [1].
The acquisition is expected to be immediately accretive to growth, margins, and cash flow, with double-digit EPS accretion in the first full year after the transaction closes. Baker Hughes projects net leverage at close to be 2.25x and aims to de-lever to 1.0-1.5x net leverage within 24 months [1].
The deal is subject to customary conditions, including approval by Chart shareholders and regulatory approvals. Baker Hughes expects the transaction to be completed by mid-year 2026 [1].
References:
[1] https://investors.bakerhughes.com/news-releases/news-release-details/baker-hughes-acquire-chart-industries-accelerating-energy
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