Chart Industries Announces $210 Per Share Merger with Baker Hughes

Introduction

Chart Industries, Inc. (NYSE: GTLS) is a global manufacturer of engineered equipment for clean energy and industrial gas markets. Headquartered in Ball Ground, Georgia, the company’s products support every phase of the liquid gas supply chain, including engineering, installation, preventive maintenance, digital monitoring, service, and repair. As of July 29, 2025, Chart’s stock price closed at $199.00, reflecting a 15.93 percent increase on a trading volume of 460,677 shares.

Corporate structure and workforce

Chart Industries employs over 10,001 people across 64 manufacturing locations and more than 50 service centers worldwide, spanning North America, Europe, Asia, Australia, India, and South America. The company operates under a decentralized model, with regional facilities managing various aspects from cryogenic tank fabrication to aftermarket services. Chart emphasizes diversity and inclusion, recognizing different cultures and experiences as vital to fostering innovation.

Cryogenic equipment by National Cancer Institute

Developments and news

On July 29, 2025, Chart filed a Definitive Proxy Statement (DEFA14A) stating a proposed merger with Baker Hughes Company. Under the merger agreement, each share of Chart common stock will convert into $210.00 in cash. The transaction received unanimous approval from Chart’s board of directors. The merger is subject to regulatory approvals and customary closing conditions.

In mid-June 2025, Chart’s Italy team hosted key customers aboard the hydrogen-powered Energy Observer vessel in Genoa, followed by a visit to Chart’s VRV production site in Ornago. These events featured liquid hydrogen marine fuel tanks and carbon capture innovations, emphasizing Chart’s involvement in maritime decarbonization.

A LinkedIn update on July 15, 2025, highlighted the deployment of Chart’s Liquid Tube Trailer® HP²-2500, which is capable of delivering up to 1,000 psig of cryogenic liquid while minimizing gas loss and providing 45 percent more storage capacity than standard trailers.

Financial and strategic analysis

Chart’s share price increase on July 29 reflects investor response to the $210.00 per-share merger consideration, representing a premium to the pre-announcement market price. The transaction aims to integrate Chart’s cryogenic and clean-energy equipment portfolio with Baker Hughes’ global services and distribution network. Shareholders are expected to receive immediate liquidity, while operational synergies may arise in engineering, manufacturing, and aftermarket support.

Key financial metrics reported through June 2025 include carbon capture initiatives that have prevented 270,000 tons of CO₂ emissions, with over 10,000 deliveries of clean-burning natural gas, and reductions of more than 3,000 tons of SOx, 12,000 tons of NOx, and 150 tons of particulates.

Market position and industry context

Chart operates in the industrial machinery manufacturing sector, specializing in cryogenic storage systems, liquefied natural gas (LNG) storage, hydrogen and CO₂ capture technologies, heat exchangers, and industrial gas handling equipment. The company’s Nexus of Clean™ framework addresses clean power, clean water, clean food, and clean industrials, aligning with global decarbonization trends and regulatory drives for lower-emission solutions. Competitors include other providers in cryogenic and process technology sectors, while growth drivers include increasing demand for LNG fueling, hydrogen infrastructure, and carbon management systems.

tl;dr

On July 29, 2025, Chart Industries announced a merger agreement with Baker Hughes at $210.00 per share, resulting in a stock price of $199.00 (+15.93 percent). The board unanimously approved the cash transaction, which is pending regulatory clearance. Chart’s cryogenic equipment and clean energy solutions are set to be integrated into Baker Hughes’ global services platform, offering immediate liquidity to shareholders and anticipated operational synergies.