Under the agreement, Chart shareholders will receive 3.165 Flowserve shares, worth about $159.90 based on Flowserve's Tuesday closing price of $50.52, for each Chart share held, about 1% below Chart's Tuesday closing price of $161.59. Chart shareholders will own 53.5% of the combined company, while Flowserve shareholders would own 46.5%.

Chart Industries (NYSE:GTLS) and Flowserve (NYSE:FLS) said Wednesday they agreed to combine in an all-stock merger valued at ~$19B including debt, creating a differentiated leader in industrial process technologies;