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Carl Icahn Owns 73 Million Shares Of Chesapeake Energy After Small Debt For Equity Exchange

Summary

Icahn does small debt for equity swap.

Company pays down $1B of debt.

Still a long way to go for profitability.

Legendary investor Carl Icahn firm filed a form 13D/A on August 4th revealing a debt for equity swap in regards to Chesapeake Energy Corporation (NYSE:CHK).

Icahn still owns 73.050 million shares. It is important to note that Mr Icahn owned the shares at a much higher level as of last year when the stock was trading at the $15 level.

Chesapeake has been through hell and back in the last 24 months. The stock bottomed out at the $1.50 level in...


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