07:11 AM EDT, 06/04/2025 (MT Newswires) -- Chart Industries ( GTLS ) and Flowserve ( FLS ) are expected to merge in an all-stock deal valued at about $19 billion, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

The merger could be announced as soon as Wednesday, the sources said.

Chart Industries ( GTLS ) shareholders will receive 3.165 shares of Flowserve ( FLS ) for each Chart share they own, according to the report.

Upon closing, Chart Industries ( GTLS ) shareholders will own 53.5% of the combined company, while Flowserve ( FLS ) shareholders will own 46.5%, on a fully diluted basis, the people told WSJ.

Flowserve ( FLS ) Chief Executive Scott Rowe is anticipated to become the combined company's CEO, while Chart Industries ( GTLS ) CEO Jill Evanko will serve as the board chair, the report said.

Chart shares were 1.5% lower in premarket trading, while Flowserve ( FLS ) was down 2.6%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)