Oilfield services provider Baker Hughes has reached a deal to acquire equipment manufacturer Chart Industries in an all-cash deal worth $13.6 billion.

By Tanay Dhumal and David French (Reuters) -Oilfield services firm Baker Hughes said on Tuesday it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, topping a previously-agreed merger offer that Chart struck with rival Flowserve last month.

Oil and gas equipment supplier Baker Hughes has clinched a $13.6bn all-cash deal to buy Chart Industries, gatecrashing an earlier agreement to merge with rival Flowserve.