Short answer
Baker Hughes (BKR) filed an 8-K current report with the SEC on July 16, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 1.02 (Termination of a Material Definitive Agreement), Item 2.01 (Completion of Acquisition or Disposition of Assets), Item 2.03 (Creation of a Direct Financial Obligation), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). Baker Hughes completed the Chart Industries acquisition, triggering conversion or cancellation of Chart equity awards under the merger terms.
Baker Hughes 8-K event analysis
AI summary of each reported item and its exhibits
Item 2.01 · Completion of Acquisition or Disposition of Assets
- Baker Hughes completed the Chart Industries acquisition, triggering conversion or cancellation of Chart equity awards under the merger terms
- Acquisition funded with cash on hand, $6.5B and €3.0B senior notes, plus term-loan borrowings
- Financing structure adds substantial debt obligations and interest exposure for Baker Hughes
- Chart restricted stock units granted after the merger agreement converted into Baker Hughes equity awards
- Remaining Chart performance awards converted into cash-based awards with time-based vesting
Item 7.01 · Regulation FD Disclosure
- Regulation FD disclosure limited to filing-status language
- No substantive company information available in the provided excerpt
Item EX-99.1 · Exhibit EX-99.1
- Chart acquisition completed July 16, 2026, adding a third Baker Hughes operating segment focused on thermal management and lifecycle services
- Chart generated $4.3 billion revenue in fiscal 2025 across more than 50 countries and diversified industrial markets
- Management targets $325 million in annualized cost synergies by year three, with additional commercial upside
- Integration may increase indebtedness and execution risk, including potential delays, higher costs, customer disruption, and employee retention challenges
- Baker Hughes targets net leverage of 1.0–1.5x within 24 months, creating a key post-acquisition capital-allocation milestone
Other items in this filing:
- Item 1.01: Entry into a Material Definitive Agreement
- Item 1.02: Termination of a Material Definitive Agreement
- Item 2.03: Creation of a Direct Financial Obligation
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