Chart Industries, Flowserve down after all-stock merger announcement

Shares of U.S.-based equipment manufacturer Chart Industries GTLS.N fall 1.6% to $161.78 premarket

GTLS and flow control systems maker Flowserve FLS.N announce an all-stock merger, combined enterprise value expected to be about $19 billion

Chart shareholders to receive 3.165 FLS shares for each share of Chart common stock owned

GTLS shareholders will own about 53.5% and FLS shareholders will own ~46.5% of the combined company

Current Flowserve chief Scott Rowe to serve as CEO of the combined company

Deal is expected to boost adjusted earnings per share in the first year after closing

Transaction is expected to close in 4Q25

FLS shares down 2.6% at $49.20 before the bell

Till last close, GTLS down 15.3% and FLS down 12.2% YTD