Flowserve and Chart Industries sign merger of equals; exchange ratio 3.165 FLS shares per GTLS share

FLOWSERVE CORP

Each Chart common share converts into 3.165 Flowserve shares; Chart preferred converts to equivalent Flowserve preferred.
Combined company HQ in Dallas; CEO Scott Rowe (Flowserve), non-executive chair Jillian Evanko (Chart), lead independent director John Garrison.
Termination fees: Chart pays $250M, Flowserve pays $215M if deal fails under certain conditions.
Approvals needed: Chart and Flowserve shareholders, HSR/foreign antitrust, SEC Form S-4 effectiveness, NYSE listing.
Boards of both companies unanimously approved; transaction expected to close within one year of June 3, 2025.

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