Chart shareholders will receive 3.165 shares of Flowserve for each share they own, giving Chart investors ownership of approximately 53.5% of the combined company. The combined business will have a new name and brand upon closing, which is expected in the fourth quarter.
The deal brings together one of the world's largest suppliers of fluid motion and control products with a manufacturer of process technologies for handling gas and liquid molecules.
The combined company, which had net revenue of about $8.8 billion last year, serves industries such as data centers, water, industrial gas, mining and minerals.
Source: Bloomberg
