8-KOther Events

Baker Hughes Co 8-K Report, Corporate Update (May 21, 2026)

Filed May 21, 2026For Securities:BKR

Summary

Baker Hughes Company (BKR) announced a significant update regarding its proposed acquisition of Chart Industries, Inc. (Chart). The company has successfully completed its pre-notification process with the European Commission (EC) and has formally filed a Form CO, initiating the EC's Phase I review. This development is a crucial step towards closing the transaction, which is now expected in July 2026, contingent upon receiving EC approval, other regulatory clearances, and customary closing conditions. This filing provides investors with a clearer timeline for the Chart acquisition, moving it closer to completion. While the expected closing date of July 2026 offers a more concrete outlook, it's important for investors to note that the transaction remains subject to significant regulatory hurdles and other closing conditions. The company's forward-looking statements also highlight potential risks, including integration challenges, financing considerations, and the possibility of not achieving expected synergies.

Key Highlights

  • 1Baker Hughes (BKR) has initiated the European Commission's Phase I review for the acquisition of Chart Industries, Inc.
  • 2The filing of Form CO with the EC marks a key milestone in the regulatory approval process.
  • 3The expected closing date for the Chart acquisition has been revised to July 2026.
  • 4The transaction's completion is dependent on receiving EC approval, other regulatory approvals, and satisfying customary closing conditions.
  • 5Baker Hughes's prior agreement and plan of merger with Chart, dated July 28, 2025, remains in effect.
  • 6The company acknowledges potential risks associated with the transaction, including regulatory approvals, financing, integration, and market competition.

Frequently Asked Questions

Filing the Form CO initiates the European Commission's Phase I review period. This is a formal step in the antitrust review process required for the acquisition of Chart Industries to proceed in the European market.

Baker Hughes now expects the merger with Chart Industries to close in July 2026, provided all regulatory approvals, including from the European Commission, are obtained and other customary closing conditions are met.

Key risks include obtaining the necessary regulatory approvals (including from the EC) on expected terms or schedules, the ability to finance the transaction, potential difficulties in integrating Chart's operations, achieving expected synergies, the retention of key employees, and general economic conditions.

The filing indicates that the Agreement and Plan of Merger, originally entered into on July 28, 2025, is still in effect and may be amended from time to time. This update pertains to the regulatory progress and expected closing timeline, not a fundamental change to the merger terms themselves.