US cryogenic equipment manufacturer Chart Industries has terminated its $19bn all-stock merger of equals with industrial machinery supplier Flowserve, having signed a new $13.6bn cash deal with global energy company Baker Hughes.
The confirmation follows reports this morning that Baker Hughes was preparing a , according to the Financial Times.
Chart’s decision came after its board, advised by legal and financial experts, determined that Baker Hughes had made a superior offer to Flowserve’s.
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