A majority of Chart shareholders voted in favour of the merger agreement, which will see shares priced at $210 once the transaction is completed.

The deal is expected to be completed by mid-year 2026.

“We are pleased to deliver this transaction to Chart shareholders and thank them for their support,” said Chart President and CEO Jill Evanko.

By making the acquisition, Baker Hughes said it would support its plans of positioning itself as a “leading energy and industrial technology company,” by gaining Chart’s liquid hydrogen and LNG capabilities.

It comes just a couple of months after Chart announced it would take the Baker Hughes deal and terminated a $19bn all-stock merger with industrial machinery supplier Flowserve.

The merger would have seen Evanko shift to Chair of the combined company, with Flowserve boss Scott Rowe taking the CEO role.

However, Chart cancelled the deal in favour of Baker Hughes’ offer, which it said would deliver “immediate value” to its shareholders.

Flowserve will receive a $266m termination payment.