Chesapeake Energy (CHK) Up on BP Takeover Speculation
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According to reports from Bloomberg, today's rise in shares of natural-gas company Chesapeake Energy Corp. (NYSE: CHK) is related to speculation BP Plc (NYSE: BP) could be interested in making a bid for the company.
Shares of Chesapeake Energy are currently up 8% to $24.77, on heavier-than-normal volume. Shares have dropped 45% over the last three months, exacerbated by the fact that CEO Aubrey McClendon was forced to sell nearly all his stock in the company due to margin calls.
Shares of Chesapeake Energy are currently up 8% to $24.77, on heavier-than-normal volume. Shares have dropped 45% over the last three months, exacerbated by the fact that CEO Aubrey McClendon was forced to sell nearly all his stock in the company due to margin calls.
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