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A global energy technology company that makes equipment and services for oil and gas drilling, plus turbines and compressors for power, LNG, and data centers. It was formed in 1987 when Baker International merged with Hughes Tool Company, two firms founded by self-taught inventors in the early 1900s. Fun fact: Howard Hughes Sr.'s two-cone rotary drill bit was so good at chewing through rock that field workers nicknamed it the "rock eater."
Baker Hughes completes $210/share acquisition of Chart Industries, creating third operating segment
Each Chart common share was converted into the right to receive $210.00 in cash, with options and equity awards converted or canceled per the merger agreement.
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Baker Hughes completed its acquisition of Chart Industries on July 16, 2026, with Chart surviving as an indirect subsidiary.
The merger was funded through cash on hand, $6.5 billion and €3.0 billion senior notes issued March 11, 2026, and $2.0 billion in new term loans from Bank of America and UniCredit.
Baker Hughes expects $325 million in annualized cost synergies by year three after close, with additional commercial synergy upside.
Chart will operate as a third reporting segment, led by Jim Apostolides, and the previous $2.6 billion term loan facility was terminated without penalty.
1.01 Entry into a Material Definitive Agreement · 1.02 Termination of a Material Definitive Agreement · 2.01 Completion of Acquisition or Disposition of Assets · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Baker Hughes and Chart discuss commitments with EC to clear merger in Phase I review
Baker Hughes Company and Chart Industries are in discussions with the European Commission regarding possible commitments to secure clearance of their merger during the initial Phase I review period.
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The proposed commitments, if adopted, are not expected to materially impact the commercial rationale or benefits of the merger.
The merger is expected to close in July 2026, subject to EC approval and customary closing conditions.
The merger agreement was entered into on July 28, 2025, with Chart surviving as an indirect wholly owned subsidiary of Baker Hughes.
A Form CO was submitted to the European Commission on May 21, 2026.
Baker Hughes files Form CO with European Commission for Chart Industries merger, expecting close in July 2026.
Baker Hughes Company, through its indirect subsidiary Tango Merger Sub, Inc., is acquiring Chart Industries, Inc. via a merger agreement dated July 28, 2025.
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On May 21, 2026, Baker Hughes filed a Form CO with the European Commission, initiating the EC's Phase I review period.
The pre-notification process with the European Commission has been concluded.
Subject to EC approval and other regulatory approvals and customary closing conditions, Baker Hughes expects the merger to close in July 2026.
The report was filed under Item 8.01 Other Events to disclose the regulatory milestone in the merger process.
Baker Hughes stockholders approve 2026 LTIP and ESPP at annual meeting
At the May 19, 2026 annual meeting, Baker Hughes stockholders approved the 2026 Long-Term Incentive Plan, adding 9,500,000 new shares of Class A common stock to the reserve.
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Stockholders also approved the Second Amended and Restated Employee Stock Purchase Plan, increasing the share reserve by 9,500,000 shares to an aggregate of 14,408,532 shares.
All ten director nominees were elected, with vote counts ranging from 787,613,327 for Michael R. Dumais to 860,289,867 for Ilham Kadri.
The advisory vote on executive compensation passed with 806,679,306 votes for and 62,794,771 against.
KPMG LLP was ratified as the independent registered public accounting firm for fiscal year 2026 with 907,322,622 votes for.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits
Baker Hughes prices and closes $6.5B and €3B senior notes offerings to fund Chart acquisition
On March 5, 2026, Baker Hughes priced $6.5 billion in USD notes across five tranches and €3 billion in EUR notes across four tranches, issued by Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc., fully guaranteed by Baker Hughes Company.
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The offerings closed on March 11, 2026, with net proceeds intended to fund part of the cash consideration for the pending acquisition of Chart Industries, Inc., pay related fees, and repay Chart's outstanding debt.
The notes are subject to special mandatory redemption at 101% of principal if the Chart acquisition is not consummated.
On March 11, 2025, Baker Hughes terminated approximately $11.0 billion in commitments under a bridge facility previously arranged for the Chart acquisition.
The underwriting agreements include customary representations, warranties, conditions, and indemnification; certain underwriters are also lenders or arrangers under existing credit facilities.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Baker Hughes files Chart Industries audited financials in connection with pending merger
Baker Hughes Company filed Chart Industries' audited consolidated financial statements as of December 31, 2025 and 2024, and for the three years ended December 31, 2025, as Exhibit 99.1 to this Form 8-K.
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The filing also includes the consent of Deloitte & Touche LLP, Chart's independent registered public accounting firm, as Exhibit 23.1.
The financial statements are filed in connection with the previously announced merger agreement dated July 28, 2025, under which Baker Hughes will acquire Chart through a merger of its indirect subsidiary, Tango Merger Sub, Inc., with and into Chart.
Chart's 2025 sales were $4,264.0 million, with net income attributable to Chart of $40.7 million, compared to $218.5 million in 2024.
The report is filed under Item 8.01 (Other Events) and Item 9.01 (Financial Statements and Exhibits) to provide the required financial information for the merger.
8.01 Other Events · 9.01 Financial Statements and Exhibits