Baker Hughes offers concessions to EU regulators over Chart Industries takeover

Monday 22 June 2026 - 12:15

U.S.-based energy services company Baker Hughes has submitted proposed remedies to European Union regulators in an effort to secure approval for its planned $13.6 billion acquisition of Chart Industries, according to a filing from the European Commission.

The case is currently under review by the European Commission, which serves as the competition authority for the European Union. The regulator has not disclosed details of the concessions offered, in line with its standard practice during ongoing merger assessments.

Brussels has set a deadline of July 10 to deliver its decision on the proposed transaction. At this stage, regulators can either accept the remedies proposed by Baker Hughes, request additional commitments, or open an in-depth investigation lasting up to four months if significant competition concerns remain unresolved.

The acquisition, first announced last year, is part of Baker Hughes’ broader strategy to expand its footprint in industrial technology and strengthen its position in key growth areas such as liquefied natural gas infrastructure and data-related energy services.

Regulatory approval in the European Union is a critical step for the deal, given the bloc’s stringent merger control framework, which closely scrutinizes large cross-border acquisitions to ensure they do not distort competition or reduce market choice for industrial customers.

As part of the process, the Commission is expected to consult industry stakeholders, including customers and competitors of both companies, to assess the potential impact of the merger on pricing, supply chains, and innovation in the energy technology sector.

If approved, the transaction would mark one of the most significant consolidations in the industrial energy services industry in recent years, reflecting ongoing consolidation trends in markets linked to liquefied natural gas and energy transition technologies.

The outcome of the review will be closely watched by investors, particularly in the energy and industrial manufacturing sectors, where large-scale mergers increasingly face heightened regulatory scrutiny in both Europe and the United States.