Flowserve Corporation (NYSE: FLS) ("Flowserve"), a leading provider of flow control products and services for the global infrastructure markets, today announced it has terminated its previously announced merger agreement for Flowserve to combine with Chart Industries,

US cryogenic equipment manufacturer Chart Industries has terminated its $19bn all-stock merger of equals with industrial machinery supplier Flowserve, having signed a new $13.6bn cash deal with global energy company Baker Hughes.

Oil and gas equipment supplier Baker Hughes has clinched a $13.6bn all-cash deal to buy Chart Industries, gatecrashing an earlier agreement to merge with rival Flowserve.