Reported 2 days ago
Flowserve Corporation's shares fell by 6.16% to $47.41 on Wednesday, following the announcement of a $19 billion merger with Chart Industries, Inc. This merger will result in Chart shareholders owning approximately 53.5% of the new entity, while Flowserve shareholders will hold about 46.5%. Despite the drop, Flowserve's CEO emphasized that the merger will enhance their market position and foster innovation.
Source: YAHOO