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Baker Hughes Completes Chart Industries Acquisition

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Energy technology company Baker Hughes (BKR) has completed the acquisition of Chart Industries (GTLS) for an enterprise value of $13.6 billion, as part of its optimization and growth strategy, it said on Thursday.

Chart Industries will operate as a new segment within Baker Hughes, to preserve its focus on air and gas handling, thermal management, and lifecycle services.

The deal is expected to generate $325 million in annualized cost synergies within three years, according to the statement, with further potential upside from commercial synergy opportunities.

Baker Hughes has launched a comprehensive integration program to support operational alignment following the acquisition, it said.

Price: $57.26, Change: $+0.01, Percent Change: +0.02%

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