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Icahn buys stake in Chesapeake: report
NEW YORK |
NEW YORK (Reuters) - Billionaire hedge fund manager Carl Icahn has purchased a stake in Chesapeake Energy Corp (CHK.N), according to Bloomberg, which sourced the information to a person with knowledge of the matter.
The person said that Icahn Enterprises LP may now hold more than 4 percent of the company, making him the company's fifth-largest investor.
Icahn was not immediately available for comment when Reuters called his office.
Mason Hawkins, whose firm Southeastern Asset Management is the largest Chesapeake shareholder, did not respond to a request for comment.
Chesapeake shares gained 3.2 percent on Thursday, closing at $15.58. In after-hours trading, the stock rose 1.6 percent to $15.83.
The Wall Street Journal reported earlier this month that Icahn had taken a stake in the embattled natural gas company. A regulatory filing by Icahn's investment firm did not disclose any first-quarter position in Chesapeake.
Icahn, who owned Chesapeake stock in 2011, appeared on CNBC on April 30 and said that while the stock is cheap, the company has problems, adding he did not know if he would invest in the company again.
(Reporting By Katya Wachtel; Editing by Tim Dobbyn)
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