Baker Hughes to Acquire Chart Industries for $9.6 Billion (3)

Baker Hughes Co. agreed to buy industrial equipment maker Chart Industries Inc. for about $9.6 billion in cash, expanding the oilfield service giant’s reach into liquefied natural gas, data centers and other technologies.

The deal announced early Tuesday calls for Chart investors to receive $210 per share, a 22% premium over Monday’s closing price. The agreement puts an end to Chart’s previous plan to merge with Flowserve Corp.

The move consolidates Baker Hughes’ position in the booming LNGsector and is a significant bet on the outlook for US energy growth amid a slowdown in domestic oil drilling. Electricity ...