Bloomberg hosts suggested that this activist filing was more of a contributor than poor fundamentals were to today's drop. Seems to me that presence of an activist would be positive news for the share price. Any thoughts?
May 2 (Reuters) - Southeastern Asset Management, the largest
shareholder in Chesapeake Energy Corp, said on Wednesday
it is converting its passive ownership in Chesapeake to an
active stake and intends to have discussions with Chesapeake's
management, board and third parties.
Southeastern made the disclosure in a U.S. Securities and
Exchange Commission filing in which it reported that it has a
13.6 percent stake in Chesapeake.