M&A · Industrials · Fabricated Plate Work (Boiler Shops)
Baker Hughes Co to acquire Chart Industries Inc
Announced Jul 29, 2025 · Closed Jul 16, 2026
Deal value$13.60BEV $13.60B
Premium30.0%To unaffected price
EV / Adj. EBITDA13.8x3.2x EV / Revenue
ConsiderationAll cash$210.00 per share
Transaction
- Acquirer
- Baker Hughes Co (BKR)
- Target
- Chart Industries Inc (GTLS)
- Buyer type
- Strategic
- Offer price per share
- $210.00
- Enterprise value
- $13.60B
- Status
- Closed Jul 16, 2026
Deal protections
- Break fee (target pays)
- $250M · 1.8%
- Reverse fee (buyer pays)
- $500M · 3.7%
- Go-shop
- No-shop
- Financing
- Committed · Goldman Sachs, Morgan Stanley
Advisors
- To the acquirer
- Goldman Sachs, Centerview, Morgan Stanley
- To the target
- Wells Fargo
- Wells Fargo fee
- $55.8M
Sector context · Industrials
- Comparable deals
- 95 in the prior 24 months
- Premium
- 30.0% vs. 39.0% sector median
- EV / Adj. EBITDA
- 13.8x vs. 9.6x sector median
- Break fee
- 1.8% vs. 2.7% sector median
Timeline
- AnnouncedJul 29, 2025
- Proxy filedAug 28, 2025
- Definitive proxySep 8, 2025
- Shareholder voteOct 6, 2025
- ClosedJul 16, 2026
Valuation · fairness opinions
Trading comparables$167.63$223.06
Precedent transactions$163.41$205.70
Discounted cash flow$171.32$229.77
Offer $210.00
Implied value per Chart Industries Inc share by analysis, from Wells Fargo.