Icahn Builds Stake in Oklahoma-Based Chesapeake Energy

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Billionaire investor Carl Icahn has doubled his stake in Chesapeake Energy, sending the company's stock soaring on Monday.

Icahn disclosed in a filing with the Securities and Exchange Commission on Friday that he owns a 5.8-percent stake in Chesapeake. The activist investor owned 38.6 million shares in Chesapeake as of Friday, up from 16.6 million shares he reported in November. Icahn paid an aggregate purchase price of about $945.9 million for his large stake in the company, according to the Securities and Exchange Commission filing.

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Icahn Builds Stake in Oklahoma-Based Chesapeake Energy

Shares in Chesapeake rallied 8.84 percent on Monday to $25.36 on ne...

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