Activist Carl Icahn adds to Chesapeake holdings

Activist investor Carl Icahn has purchased nearly 10 million additional shares of Chesapeake Energy Corp.
FROM STAFF REPORTS Published: November 21, 2012
Advertisement
;

Activist billionaire Carl Icahn has spent nearly $166 million this month to boost his stake in Chesapeake Energy Corp.

Already one of Chesapeake's largest shareholders, Icahn and his affiliates bought an additional 9.6 million shares since last Monday, according to a regulatory filing.

Icahn paid an average of $17.42 a share to add to his stake in the company.

Chesapeake's stock closed Tuesday at $17.60 a share, up 13 cents.

Icahn now controls almost 60 million shares of Chesapeake stock, second only to Memphis-based Southeastern Asset Management.

Those two led an investor uprising at Chesapeake this year that resulted in a reshuffling of the company's board, with co-founder Aubrey McClendon replaced as chairman.

Vincent J. Intrieri was added to the Chesapeake board with four other new directors in June as Icahn's representative.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Conservative Activist Claims Women Paid The Same As Men Won't Find Husbands
  2. 2
    Report: Thunder to open playoffs on Saturday
  3. 3
    Former Sonics guard Gary Payton: Durant, Westbrook 'the new era'
  4. 4
    GOP consulting firm employee starts 'Boats 'N Hoes PAC'
  5. 5
    Why One Man Traveled Almost 3,000 Miles To Take On The Federal Government At A Ranch In Nevada
+ show more