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Icahn Cuts Chesapeake Energy Stake To 4%

Carl Icahn has sold part of his stake in Chesapeake Energy.

Carl Icahn has sold part of his stake in Chesapeake Energy, The Wall Street Journal reports. The billionaire activist investor sold the shares in the oil and gas producer at a price of $38.41 per share.

Icahn has reduced his Chesapeake holdings to 4.15% from 5.8% in mid-December. He still owns about 27 million shares of Chesapeake valued at about $900 million, adds Reuters.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

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