Baker Hughes Sets July 2026 Target Close for Chart Industries Acquisition After EC Filing

TL;DR: Baker Hughes agreed to buy Chart Industries on July 28, 2025, and filed the required European Commission notice on May 21, 2026. It now aims to complete the acquisition by July 2026, pending regulatory approvals.

Context Baker Hughes is an oilfield services company headquartered in Houston. Chart Industries manufactures equipment for liquefied natural gas, hydrogen, and other industrial gas applications. The merger would combine Baker Hughes's service portfolio with Chart's cryogenic technology platform. The deal was first announced in mid-2025 as part of Baker Hughes's strategy to expand into low-carbon energy solutions.

Key Facts On July 28, 2025, Baker Hughes, Chart Industries, and a merger subsidiary signed a definitive merger agreement. Baker Hughes filed a Form CO with the European Commission on May 21, 2026, which opened the Phase I antitrust review. Based on the standard Phase I timeline and assuming clearance, Baker Hughes expects the transaction to close in July 2026. The filing triggers a 25-working-day review period, extendable if the Commission requests additional information.

Regulatory Process The European Commission's Phase I review examines whether a merger raises serious doubts about compatibility with the common market. If the Commission identifies concerns, it may open a Phase II investigation, which can last up to 90 working days. Absent such concerns, the Commission issues a clearance within the initial period.

Closing Conditions Completion of the merger remains subject to customary closing conditions, including antitrust clearances in multiple jurisdictions. Shareholder approval and satisfaction of other regulatory requirements are also required. The parties have indicated they will work to satisfy these conditions ahead of the targeted July 2026 date.

What It Means The acquisition would give Baker Hughes access to Chart's expertise in liquefied natural gas equipment, a market projected to grow as countries seek cleaner fuels. Regulators will assess whether the combined entity could reduce competition in markets for gas processing and cryogenic equipment. If approved, Baker Hughes anticipates cost synergies from shared supply chains and cross‑selling opportunities. The timeline suggests the company is confident the EC will issue a clearance without substantive remedies.

What to Watch Next Investors should monitor the European Commission's Phase I decision, expected by mid-June 2026, and any subsequent Phase II referral. Updates on antitrust clearance in other jurisdictions, such as the U.S. Federal Trade Commission, will also affect the final closing date.