Chesapeake (CHK) in Talks to Sell $4 Billion in Pipelines

Article Stock Quotes (2) Comments (0)

Chesapeake Energy (NYSE: CHK) is in talks to sell pipelines valued at $4 billion to Global Infrastructure Partners, according to reports from Bloomberg.

Chesapeake is facing a cash-crunch due to a decline in natural gas prices and shareholder pressure from corporate governance issues. The sale would include its stake in Chesapeake Midstream Partners LP (NYSE: CHKM). If talks go smoothly, a deal is expected to be reached in days.

Carl Icahn, who recently took a stake in the energy company, is believed to be among the shareholders pushing for a sale.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Dish Network (DISH) CEO Offers $2 Billion for Lightsquared Spectrum - Bloomberg
• Warner Chilcott plc (WCRX) Halted News Pending
• Yahoo! (YHOO) Board Said to Approve $1.1B Tumblr Deal

Create E-mail Alert Related Categories

Mergers and Acquisitions, Rumors

Related Entities

Carl Icahn

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?