The Ademi Firm is investigating Chart Industries (NYSE: GTLS) for possible breaches of fiduciary duty and other violations of law in its transaction with Baker Hughes.
In the transaction, shareholders of Chart Industries will receive $210 per share in cash, representing a total enterprise value of $13.6 billion. Chart Industries insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Chart Industries by imposing a significant penalty if Chart Industries accepts a competing bid. We are investigating the conduct of the Chart Industries board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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