Baker Hughes completes acquisition of Chart Industries, expanding its cryogenic and LNG equipment portfolio
Executive summary: Baker Hughes completed the acquisition of Chart Industries on July 16, 2026, acquiring all outstanding shares. The deal expands Baker Hughes’ presence in cryogenic equipment and LNG markets, positioning it to capture growth in energy transition and clean fuels.
Who is involved: Baker Hughes Company (BKR), Chart Industries (GTLS), shareholders, and the financing banks that provided the cash and debt components of the transaction.
Likely next: Integration of Chart’s operations will proceed, with the company targeting cost synergies and reviewing potential divestitures of overlapping assets while reporting progress in upcoming earnings calls.
Baker Hughes announced the closing of its purchase of Chart Industries, a leading provider of cryogenic equipment for liquefied natural gas, hydrogen and industrial gas markets. The transaction combines Baker Hughes’ oilfield services portfolio with Chart’s technology platform, aiming to create synergies in the energy transition sector. No major regulatory impediments were reported, and the deal was financed through cash and assumed debt.
Timeline
- — Baker Hughes Completes Acquisition of Chart Industries (GlobeNewswire)
Analysis — what this means
Likely next events
- Baker Hughes to report integration progress in Q4 2026 earnings call
- Expected annual cost synergies of $150 million by end 2027
- Potential divestiture of non-core Chart businesses under review
- Regulatory filing completion with Hart-Scott-Rodino antitrust clearance
Sectors affected
- Oilfield services
- LNG equipment
- Cryogenic industrial gases
- Hydrogen infrastructure
Regulatory implications
- Hart-Scott-Rodino waiting period cleared July 2026, no further antitrust action
- Possible review by EU Commission under energy transition merger guidelines
- Compliance with CFIUS for any foreign government stakes (none identified)
Historical parallels
- Baker Hughes acquisition of GE Oil and Gas business in 2017 for $9.1 billion
- Schlumberger’s purchase of Cameron International in 2016 for $14.8 billion
- Halliburton’s attempted acquisition of Baker Hughes in 2014 was blocked by antitrust regulators
Sources
- Baker Hughes Completes Acquisition of Chart Industries — GlobeNewswire
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