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, ahead of signing a new deal with global energy company Baker Hughes The news follows reports that Baker Hughes is preparing a $13.6bn all-cash offer to buy Chart, according to the Financial Times.

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,