Flowserve terminates Chart Industries merger, receives $266 million

Flowserve Corporation (NYSE: FLS) terminated its merger agreement with Chart Industries Inc. (NYSE: GTLS) and will receive a $266 million termination payment, the company announced.

The termination followed Flowserve's board decision not to submit a revised offer after Chart's board determined that an unsolicited acquisition proposal from Baker Hughes (NASDAQ: BKR) constituted a "superior proposal" under the merger agreement terms.

"The decision not to pursue a revised offer for Chart demonstrates our commitment to financial discipline, as well as our confidence in the growth prospects of our standalone business," said Scott Rowe, Flowserve's president and chief executive officer.

Flowserve, which provides flow control products and services for global infrastructure markets, operates in more than 50 countries and produces engineered pumps, seals, valves and related flow management services.

The company announced it would host a conference call on July 30 at 11:00 a.m. Eastern Time to discuss second quarter results for the period ended June 30, 2025. The call will be accessible on the company's investor relations page.

Rowe stated the company is generating strong free cash flow and delivering progress across all business segments, positioning it to invest in innovation and strategic initiatives.

The information is based on a company press release statement.

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