The acquisition is set to enhance Baker Hughes' ability to serve industries that handle gases and liquids at extremely low temperatures.

Oil and gas equipment supplier Baker Hughes is nearing a $13.6bn all-cash deal to buy Chart Industries, gatecrashing an earlier agreement to merge with rival Flowserve, according to people familiar with the matter.

By bne IntelliNews Oilfield services and technology company Baker Hughes has struck a deal to acquire Chart Industries in an all-cash transaction worth $13.6bn. This equates to $210 per share of Chart’s common stock.