Chart Industries (GTLS) Soars 15.7% on $13-Billion Merger, Impressive Earnings

We recently published 10 Stocks With Surprising Gains. Time to Sell? Chart Industries, Inc. (NYSE:GTLS) is one of the companies that stood stronger last week.

Chart Industries jumped by 15.70 percent week-on-week over twin news of a $13.6 billion merger with Baker Hughes and an impressive earnings performance in the past quarter of the year.

In an official statement last week, Baker Hughes said it entered into a definitive agreement with Chart Industries, Inc. (NYSE:GTLS) for the full acquisition of its outstanding shares at a price of $210 apiece. The price suggested a 5.6 percent upside from its closing price of $198.75 on Friday.

According to Baker Hughes, the transaction is expected to be completed in the middle of next year and will be subject to approvals of regulators and its shareholders.

Meanwhile, Chart Industries, Inc. (NYSE:GTLS) announced in a separate statement that it grew its net income attributable to shareholders in the second quarter of the year by 34 percent to $69.3 million from $51.8 million in the same period last year. Sales amounted to $1.08 billion, higher by 4 percent than the $1.04 billion year-on-year.

Photo by Luis Ramirez on Unsplash

For the first half, attributable net income nearly doubled to $112 million from $56.3 million, while sales inched up by 4.5 percent to $2.08 billion from $1.99 billion.