Baker Hughes (BKR) said Thursday it has completed its acquisition of Chart Industries (GTLS) for $210 per share in cash, representing an enterprise value of $13.6 billion.

The acquisition is expected to boost Baker Hughes' ability to deliver durable earnings and cash flow, with Chart's portfolio of capabilities in air and gas handling, thermal management, and lifecycle services, the company said.

Chart will operate as a new reporting segment within Baker Hughes, led by the company's Chief Infrastructure and Performance Officer Jim Apostolides, according to a statement.

Baker Hughes said it expects $325 million in annualized cost synergies within three years.