{"id":166697,"date":"2022-11-09T15:38:39","date_gmt":"2022-11-09T15:38:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=166697"},"modified":"2022-11-09T15:38:39","modified_gmt":"2022-11-09T15:38:39","slug":"chart-industries-sinks-on-decision-to-buy-howden-for-4-4-bln","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/chart-industries-sinks-on-decision-to-buy-howden-for-4-4-bln\/","title":{"rendered":"Chart Industries Sinks On Decision To Buy Howden For $4.4 Bln"},"content":{"rendered":"
Shares of Chart Industries, Inc. (GTLS) are falling more than 24% at $182.59, after the company announced its decision to acquire Howden, a provider of mission critical air and gas handling products and services, in a cash-and-stock deal valued at $4.4 billion. <\/p>\n
The deal is expected to close in the first half of 2023, and generate combined revenue of about $3.4 billion.<\/p>\n
The purchase price is equal 12.9x Howden’s adjusted EBITDA for the 12 months ended August 31, 2022.<\/p>\n
Chart Industries is a manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases.<\/p>\n
GTLS is at $180.82 currently. It has traded in the range of $108.29-$242.59 in the last 1 year. <\/p>\n