Latest news with #ChartIndustries
Yahoo
2 days ago
- Business
- Yahoo
Chart Industries and Flowserve Announce $19 Billion All-Stock Merger of Equals
Chart Industries (GTLS, Financials) and Flowserve (FLS, Financials) will merge in an all-stock deal to form a combined industrial process technology company with an enterprise value of approximately $19 billion, the companies said Wednesday. Under the agreement, Chart shareholders will receive 3.165 Flowserve shares for each Chart share owned, resulting in 53.5% ownership by Chart investors in the new entity. Warning! GuruFocus has detected 4 Warning Signs with GTLS. The new company will combine Chart's compression, thermal, and cryogenic systems with Flowserve's pump, valve, and seal portfolio, aiming to deliver integrated solutions with strong digital overlays. Revenue from aftermarket services is projected to reach $3.7 billion annually, driven by a 5.5 million-unit installed base. Chart CEO Jill Evanko will become Chair of the new board, while Flowserve CEO Scott Rowe will lead the combined company as Chief Executive. Headquarters will be in Dallas, with continued presence in Atlanta and Houston. The transaction is expected to close in Q4 2025 pending shareholder and regulatory approvals. The companies expect $300 million in annual cost synergies within three years and incremental revenue growth of 2%. Adjusted earnings per share are projected to be accretive in year one. The combined entity plans to maintain an investment-grade balance sheet and Flowserve's historical dividend levels. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Chart Industries and Flowserve Announce $19 Billion All-Stock Merger of Equals
Chart Industries (GTLS, Financials) and Flowserve (FLS, Financials) will merge in an all-stock deal to form a combined industrial process technology company with an enterprise value of approximately $19 billion, the companies said Wednesday. Under the agreement, Chart shareholders will receive 3.165 Flowserve shares for each Chart share owned, resulting in 53.5% ownership by Chart investors in the new entity. Warning! GuruFocus has detected 4 Warning Signs with GTLS. The new company will combine Chart's compression, thermal, and cryogenic systems with Flowserve's pump, valve, and seal portfolio, aiming to deliver integrated solutions with strong digital overlays. Revenue from aftermarket services is projected to reach $3.7 billion annually, driven by a 5.5 million-unit installed base. Chart CEO Jill Evanko will become Chair of the new board, while Flowserve CEO Scott Rowe will lead the combined company as Chief Executive. Headquarters will be in Dallas, with continued presence in Atlanta and Houston. The transaction is expected to close in Q4 2025 pending shareholder and regulatory approvals. The companies expect $300 million in annual cost synergies within three years and incremental revenue growth of 2%. Adjusted earnings per share are projected to be accretive in year one. The combined entity plans to maintain an investment-grade balance sheet and Flowserve's historical dividend levels. This article first appeared on GuruFocus.
Yahoo
5 days ago
- Business
- Yahoo
Industrial tech firms Chart Industries, Flowserve set for all-stock merger
-- Industrial-process technology firms Chart Industries Inc (NYSE:GTLS) and Flowserve Corporation (NYSE:FLS), are on the brink of finalizing an all-stock merger, according to a Wall Street Journal report on Wednesday. The combined entity would be worth roughly $19 billion, including debt, the report said, citing people familiar with the matter. Shares of Chart Industries fell about 2% in pre-market trading, while Flowserve gained over 1%. Under the terms of the merger, Chart Industries shareholders will receive 3.165 shares of Flowserve common stock for every share of Chart common stock they own, the report added. After the completion of the transaction, Chart Industries shareholders will own a majority stake of 53.5% in the combined entity, with Flowserve shareholders holding the remaining 46.5%, according to the Journal. The deal, which is expected to be announced as early as Wednesday. Related articles Industrial tech firms Chart Industries, Flowserve set for all-stock merger UBS upgrades Snowflake on signs of sustained data infrastructure investment Any near-term weakness in S&P 500 would provide a 'buy the dip' opportunity: JPM Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Morning Movers: Chart Industries, Flowserve both rise following merger pact
Stock market futures are slightly lower this morning as investors digest a mix of tariff and jobs concerns. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Traders are focused on the labor market this week, with jobless claims and the May employment report on the horizon. After ADP announced private payrolls increased a lean 37,000 in May, President Trump repeated his view that the Fed 'must' lower rates 'now.' Meanwhile, concern about the impact of tariffs have been stoked again following a warning from Dollar Tree about profit pressure related to import costs. Oil prices are steady as Canadian wildfire risks appear to be easing slightly, helping calm supply fears. In crypto, Uniswap's token has surged above $6.75 on signs of accumulation by larger investors, with some analysts pointing to a shift in market sentiment. In pre-market trading, S&P 500 futures fell 0.03%, Nasdaq futures fell 0.04% and Dow futures fell 0.06%. Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER – Chart Industries (GTLS) and Flowserve (FLS) up 6% and 4%, respectively, after announcing that they have entered into a definitive agreement to combine in an all-stock merger of equals UP AFTER EARNINGS – Guidewire (GWRE) up 13% REV Group (REVG) up 10% Genesco (GCO) up 9% Thor Industries (THO) up 8% Sprinklr (CXM) up 2% HP Enterprise (HPE) up 6% HealthEquity (HQY) up 4% DOWN AFTER EARNINGS – Sportman's Warehouse (SPWH) down 4% Dollar Tree (DLTR) down 2% CrowdStrike (CRWD) down 7% Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on GTLS: Disclaimer & DisclosureReport an Issue Chart Industries and Flowserve Announce Merger Agreement Chart Industries, Flowserve say agreement to generate $300M of annual synergies Chart Industries, Flowserve to combine in all-stock merger of equals Chart Industries, Flowserve near all-stock deal worth about $19B, WSJ reports Chart Industries shares up 5% premarket following WSJ report
Yahoo
5 days ago
- Business
- Yahoo
Chart-Flowserve merger, Nio R&D, Amazon's $10B AI investment
Yahoo Finance host Josh Lipton tracks today's top moving stocks and biggest market stories in this Market Minute, including Chart Industries (GTLS) and Flowserve (FLS) announcing their merger, Nio's (NIO) goals to reduce research and development (R&D) spending, and Amazon (AMZN) planning a $10 billion investment into its North Carolina data centers. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for your finances market minute. US stocks in higher as Wall Street digests a sharp slowdown in private sector hiring growth. Chart Industries and Flowserve strike a merger deal. The two companies to combine in all stock merger. The combined company expected to have an enterprise value of about $19 billion. Transaction expects to close in the fourth quarter of 2025. Shares of Neo, they're riding higher as the company aims to reach its fourth quarter break even target by reducing research and development spending. This coming as the Chinese EV maker reports revenue for the first quarter that did miss estimates. Neo also though forecasting better than expected deliveries for the second quarter. Amazon makes plans to invest $10 billion in North Carolina. Company aiming to expand its AI infrastructure. The investment is expected to create at least 500 new high skilled jobs. And that's your Yahoo Finance market minute. For more what's trending on Yahoo Finance, scan the QR code below. Melden Sie sich an, um Ihr Portfolio aufzurufen.
