07:23 AM EDT, 07/29/2025 (MT Newswires) -- Baker Hughes ( BKR ) has agreed to acquire Chart Industries ( GTLS ) for $210 per share in cash, or a total enterprise value of $13.6 billion, the companies said Tuesday.

The deal expands Baker Hughes' ( BKR ) offerings, broadens its reach into more resilient industrial sectors like gas, mining, and food processing, and strengthens its position in the low-carbon and resource-efficient services market, the companies said.

Baker Hughes ( BKR ) expects $325 million in annual cost savings by the end of the third year, the companies said, adding the combination is expected to be immediately accretive to growth, margins and cash flow, with double-digit EPS accretion in the first full year post-close.

Baker Hughes ( BKR ) said it has secured bridge financing to fund the deal, which is expected to be replaced by permanent debt financing prior to the close, which is expected by mid-year 2026.

Chart Industries ( GTLS ) shares were more than 16% higher in premarket trading, while Baker Hughes ( BKR ) was down less than 1%.