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.