The acquisition is set to enhance Baker Hughes' ability to serve industries that handle gases and liquids at extremely low temperatures.

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.

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.