Carl Icahn Tightens Grip On Chesapeake

Law360, New York (November 20, 2012, 4:05 PM EST) -- Billionaire corporate agitator Carl Icahn has raised his stake in Chesapeake Energy Corp. to 8.98 percent, tightening his grip on the beleaguered oil and gas firm six months after buying up shares and elbowing his way to a board seat.

According to a U.S. Securities & Exchange filing, Icahn has bought an additional 9.6 million shares, making him the company's second-biggest shareholder and signaling that more tough love may be in store for Chesapeake. The company has seen more than $5 billion in market value erode...
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