Chart Industries to Form $19 Billion Company in Flowserve Merger

Industrial companies Chart Industries Inc. and Flowserve Corp. agreed to merge in a deal valuing the combined company at about $19 billion.

Chart shareholders will receive 3.165 shares of Flowserve for each share owned, giving Chart’s investors ownership of about 53.5% of the new company, according to a statement Wednesday. The combined business will assume a new name and brand after the close, which is expected in the fourth quarter.

The deal brings together one of the world’s largest providers of fluid motion and control products with a manufacturer of process technologies for handling gas and liquid molecules. The combined ...