Baker Hughes and Chart Industries announced in separate statements Tuesday that they have entered into a definitive agreement under which Baker Hughes will acquire all outstanding shares of Chart’s common stock for $210 per share in cash. That’s equivalent to a total enterprise value of $13.6 billion, the statements highlighted.

Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries , edging out rival suitor Flowserve, with a buyout likely to be announced in the coming days, the Financial Times reported on Monday,

Oilfield services company Baker Hughes acquisition of Chart Industries should finalize next year. The company declined to comment on potential impacts for either firms' Houston employees.