Chesapeake Energy Corp. (NYSE: CHK) shares are indicated for a much higher open Monday morning following reports that activist investor Carl Icahn will disclose a "significant" stake in the energy company, reports the WSJ Monday.

With shares at their lowest point since 2009 -- shares fell 13.8 percent last Friday -- and Icahn being known to make investments in companies he feels are undervalued, the move would make sense.

Representatives for Icahn didn't comment on the chatter. Shares are bid over 9 percent higher ahead of the bell.

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