Flowserve recently announced the termination of its previously announced merger agreement with Chart Industries, Inc.
The announcement follows the Flowserve Board of Directors’ decision to not submit a revised offer to merge with Chart after being notified that Chart’s Board of Directors had determined that a recent unsolicited acquisition proposal from Baker Hughes constituted a “superior proposal” under the terms of the merger agreement.
In accordance with the terms of the merger agreement, Flowserve will receive a $266 million termination payment.
Courtesy of Flowserve.