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

(Reuters) -Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries, edging out rival suitor Flowserve, with a buyout likely to be announced in the coming days, the Financial Times reported on Monday, citing sources who warned that the agreement was not final.

Oilfield services company Baker Hughes acquisition of Chart Industries should finalize next year. The company declined to comment on potential impacts for either firms' Houston employees.