Baker Hughes said Tuesday it will acquire industrial equipment maker Chart Industries in an all-cash transaction valued at about $13.6 billion, including debt. The Houston-based oilfield-services group agreed to pay $210 a share, representing a 22 % premium to Chart’s last closing price and giving the target an equity value of roughly $9.6 billion. The deal supersedes Chart’s earlier plan to merge with Flowserve. Flowserve declined to raise its all-stock bid and will receive a $266 million termination fee. Chart shares rose around 16 % after the announcement, while Baker Hughes slipped about 3 % in early trading. Baker Hughes expects the purchase to be accretive to earnings per share in the first year and to deliver about $325 million in annual cost savings by the end of year three. The companies aim to complete the transaction by mid-2026, pending regulatory and shareholder approvals. Acquiring Chart, a specialist in cryogenic and gas-liquefaction equipment, deepens Baker Hughes’ presence in liquefied natural gas, data-center cooling and other high-growth industrial markets, reducing its reliance on cyclical oilfield activity. Chart will remain a stand-alone unit within Baker Hughes’ Industrial & Energy Technology segment, and the buyer has lined up what bankers describe as the largest blue-chip debt financing for an acquisition so far this year.