News Summary: Icahn raises stake in Chesapeake

Associated Press

THE VOCAL BILLIONAIRE: Activist investor Carl Icahn bumped up his stake in Chesapeake Energy, a company where he has already pushed for sweeping changes in governance. Icahn now owns 8.98 percent, up from a 7.6 percent stake he held this summer.

THE PUSH: Since Icahn first bought up shares in May, he's pushed for a slew of changes. Investors revolted after a series of corporate governance issues surfaced.

THE STOCK: The company lost more than half of its market value in the three months leading up to Icahn's initial investment, but shares have since increased by about 20 percent.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You