Chart and Baker Hughes announced the approval in separate statements on Monday.
In July, the two firms entered into a definitive deal.
At the special meeting of Chart shareholders held on Monday, a majority of the outstanding shares of Chart common stock were voted in favor of the adoption of the definitive merger agreement, Chart said.
Moreover, under the terms of the merger agreement, Chart shareholders will be entitled to receive $210 per share of common stock in cash upon the completion of the transaction.
“We are pleased to deliver this transaction to Chart shareholders and thank them for their support,” said Chart president and CEO Jill Evanko.
“With this important milestone now achieved, we look forward to moving forward with the completion of the transaction,” she said.
Mid-year 2026
Baker Hughes said the completion of this transaction, anticipated for mid-year 2026 pending regulatory approvals, represents a “significant” step forward in its strategy to position itself as a “premier” energy and industrial technology company.
Additionally, in connection with the acquisition, the Baker Hughes board of directors continues to review additional value creation opportunities.
“The acquisition of Chart is one of several steps that is accelerating the company’s strategy of becoming a leading energy and industrial solutions provider focused on delivering substantial value to shareholders,” it said.
Baker Hughes said the acquisition of Chart will transform its industrial and energy technology (IET) segment, bolstering the company’s capabilities across a wider array of energy and industrial applications.
According to the firm, the transaction will expand Baker Hughes’ presence in high-growth markets, including LNG, data centers, and clean energy, and is expected to further support resilient earnings and cash flow.
“We are pleased that Chart shareholders have approved our pending acquisition as we aim to capitalize on the momentum of both companies,” said chairman and CEO Lorenzo Simonelli.
“Our strategy has delivered total shareholder returns of 340 percent over the past five years, 150 percent over the past three years and 38 percent in the last 12 months, significantly outperforming our peers,” he said.
“With the pending acquisition of Chart, we are undertaking a comprehensive evaluation of our capital allocation focus, business, cost structure, and operations, with a view toward delivering additional value for our shareholders,” Simonelli said.
