Chart Industries, Flowserve down after all-stock merger announcement

Chart Industries

04/06/2025 12:52

** Shares of U.S.-based equipment manufacturer Chart Industries GTLS.N fall 1.6% to $161.78 premarket

** GTLS and flow control systems maker Flowserve FLS.N announce an all-stock merger, combined enterprise value expected to be about $19 billion

** Chart shareholders to receive 3.165 FLS shares for each share of Chart common stock owned

** GTLS shareholders will own about 53.5% and FLS shareholders will own ~46.5% of the combined company

** Current Flowserve chief Scott Rowe to serve as CEO of the combined company

** Deal is expected to boost adjusted earnings per share in the first year after closing

** Transaction is expected to close in 4Q25

** FLS shares down 2.6% at $49.20 before the bell

** Till last close, GTLS down 15.3% and FLS down 12.2% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))