Consider takeover offers, Chesapeake's largest shareholder says

OKLAHOMA CITY — Chesapeake Energy Corp. should be open to any takeover offers as it deals with the fallout of questions about CEO Aubrey McClendon’s personal business dealings, the company’s largest shareholder said.

O. Mason Hawkins, chairman and CEO of Memphis-based Southeastern Asset Management Inc. sent a letter to McClendon and the Chesapeake board Monday detailing its concerns about the company.

“We urge the company to take action in three areas: debt targets, management focus and strategic options,” Hawkins wrote.

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