m_and_a
confidence high
sentiment positive
materiality 0.95
Baker Hughes to acquire Chart Industries for $210/sh in $13.6B all-cash deal
Baker Hughes Co
- Purchase price of $210 per share in cash; enterprise value of $13.6 billion; ~9x 2025E consensus EBITDA on fully synergized basis.
- Baker Hughes expects $325M annualized cost synergies by end of year three; transaction immediately accretive to EPS and double-digit ROIC.
- Chart generated $4.2B revenue and $1.0B adjusted EBITDA in 2024; 65 manufacturing locations, 50+ service centers globally.
- Fully committed bridge financing up to $14.9B from Goldman Sachs & Morgan Stanley; net leverage at close ~2.25x.
- Expected close mid-year 2026, subject to Chart shareholder approval and regulatory clearances; Chart Board unanimously recommends.
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