Why Chart Industries Stock Is Moving
Portfolio Pulse from Ryan Gustafson
Chart Industries (NYSE:GTLS) has signed a definitive agreement to sell its Roots business to Ingersoll Rand (NYSE:IR) for $300 million. The transaction is expected to close in Q3 2023.
June 12, 2023 | 6:59 pm
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Chart Industries to sell Roots business to Ingersoll Rand for $300M, accelerating its deleveraging plan and focusing on core strategic solutions.
The sale of Roots business to Ingersoll Rand will help Chart Industries accelerate its deleveraging plan and focus on core strategic solutions. This is a positive development for the company and its investors, which is reflected in the stock price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ingersoll Rand acquires Roots business from Chart Industries for $300M, expanding its low-pressure compression and vacuum technologies portfolio.
The acquisition of Roots business will expand Ingersoll Rand's portfolio in low-pressure compression and vacuum technologies. This strategic move is expected to strengthen the company's position in the market and create potential growth opportunities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100