New York, May 22, 2026, 10:04 EDT
- Baker Hughes shares slipped early Friday after EU regulators put a June 26 deadline on its planned takeover of Chart Industries.
- The stock traded near $65.41 just before 10 a.m. in New York, down 0.59%. Broader U.S. indexes moved up.
- The review is key because the Chart deal is at the center of Baker Hughes’ move out of legacy oilfield services and into LNG, power, and industrial tech.
Baker Hughes stock fell early Friday in the U.S. after Reuters said the EU’s antitrust watchdog will rule by June 26 on the group’s planned $13.6 billion buyout of Chart Industries.
BKR traded at $65.41 on Nasdaq, down 0.59% as of 9:55 a.m. EDT, Google Finance showed. The Dow, S&P 500, and Nasdaq Composite were all up at that point, so BKR lagged the broad market early.
The EU date matters for more than just legal reasons. Baker Hughes told investors the Chart deal would give it more exposure to LNG — natural gas shipped in liquid form — and to industrial gear for data centers, both areas that have been in focus for investors.
EU competition regulators will decide on the Baker Hughes-Chart deal after a first review, Reuters reported, citing a Commission filing. The European Commission can approve the deal with or without conditions, or if it finds major competition issues, start a more in-depth probe.
Baker Hughes said last year it would buy Chart in an all-cash deal including debt, according to Reuters. Chart, which makes equipment for handling gas and liquid molecules, runs 65 factories and over 50 service centers worldwide.
The deal is key to Baker Hughes as it moves away from its oilfield-services focus. RBC Capital Markets analyst Keith Mackey called the move one that “could check some notable strategic boxes for Baker, including increased industry diversification, higher aftermarket services revenue, and margin accretion.” Reuters
Baker Hughes CFO Ahmed Moghal told investors on a call the deal would boost its offerings for main customers and increase its reach into growth markets and segments like metals and mining.
Baker Hughes’ Q1 earnings are front of mind for investors following the review news. In April, the company posted first-quarter orders at $8.2 billion, with $4.9 billion of that coming from Industrial & Energy Technology—its IET business that supplies equipment and services for gas, power, and industrial energy. Adjusted EBITDA rose 12% to $1.16 billion compared to last year, Baker Hughes said.
IET booked more than $4 billion in orders for the third quarter in a row, CEO Lorenzo Simonelli said in the first-quarter update, pointing to gains from power systems, LNG projects, gas infrastructure and carbon capture and storage. Carbon capture and storage is when carbon dioxide is trapped and kept instead of being released into the atmosphere.
Baker Hughes’ oilfield business weakened. Reuters said last month that Oilfield Services and Equipment revenue was down 7% year over year in Q1, after selling the surface pressure control business and from Middle East supply issues.
Peers have been hit by the same pressures. Halliburton said issues tied to the Iran conflict and traffic at the Strait of Hormuz might lower this quarter’s profit by 7 to 9 cents a share. SLB had pointed to a potential impact in the 6-cent to 9-cent range, according to Reuters in April.
Investors are watching for the EU review, which could drag out or end up asking for changes that cut into the deal’s strategic edge. There’s also a risk that drilling slows further or more Mideast problems weigh on the old oilfield unit, pinning more of the stock’s story to how Baker Hughes handles IET execution and gets Chart rolled in.
June 26 is the next set date for markets. Friday won’t be a holiday for U.S. equities. Nasdaq lists May 25, a Monday, as the next U.S. equity and options market close for Memorial Day.
