Chart Industries and Flowserve agreed to merge in an all-stock deal worth approximately $19 billion, the companies announced Wednesday. Both stocks were falling after the news. The move brings together two manufacturers of industrial processing equipment.

Industrial companies Chart Industries Inc. and Flowserve Corp. agreed to merge in a deal valuing the combined company at about $19 billion.

Two businesses in industrial-process technologies struck an all-stock merger worth roughly $19 billion. Chart Industries and Flowserve said Wednesday they plan to combine in a deal that aims to create a bigger industry leader,