NEW YORK (
(CHK - Get Report) expects Carl Icahn to disclose he has taken a significant stake in the company, according to a published media report.
The report, published on
The Wall Street Journal's Web site, cited anonymous sources familiar with the matter.
A representative for Icahn declined to comment Sunday, the report said.
"We're certainly a value play, but we can't know for certain that
has taken a significant stake," Michael Kehs, a Chesapeake spokesman, was quoted saying by the
The natural-gas company is under pressure to raise cash.
Shares of Chesapeake closed Friday down $2.37, or 13.8%, at $14.81 after the company
said it might have to delay
some planned asset sales because of debt agreements it had.
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But the shares recovered in after-hours trading after Chesapeake said it had received a $3 billion loan from
that would give it more flexibility selling assets.
Icahn has invested in Chesapeake before, the
noted. He disclosed a 5.8% stake in December 2010, reduced the stake a few weeks later and then closed out the position last October, the