Investors Are Dumping These 10 Stocks

4. Flowserve Corporation (NYSE:FLS)

Flowserve dropped its share prices by 6.16 percent on Wednesday to end at $47.41 apiece following plans to merge with Chart Industries, Inc. (NYSE: GTLS) for a transaction value of $19 billion.

Under the agreement, Chart shareholders will receive 3.165 shares of Flowserve Corporation (NYSE:FLS) common stock for each share of Chart common stock owned.

Following the closing of the transaction, Chart shareholders will own approximately 53.5 percent and Flowserve Corporation (NYSE:FLS) shareholders will own approximately 46.5 percent of the merger company, on a fully diluted basis.

“The merger will create a differentiated leader with the scale and resilience to meet the significant demand for comprehensive industrial process technologies and services,” said Flowserve Corporation (NYSE:FLS) President and CEO Scott Rowe.

“Chart’s and Flowserve’s highly complementary businesses will strengthen our ability to meet our customers’ needs, empower innovation and drive long-term, sustainable growth,” he added.