Icahn Wants Chesapeake (CHK) To Keep Midstream Pipeline

Chesapeake Energy Group (NYSE:CHK) may reconsider the sale of Chesapeake Midstream Partners LP (NYSE:CHKM). The firm was spun off from Chesapeake two years ago and Chesapeake is planning on selling the remaining share of it in a bid to raise money to stem its huge cash flow gap. That move, which has not seemed to have faced much opposition so far, now has a dissenter in the form of veteran activist Carl Icahn who wants to reexamine that sale.

Chesapeake Midstream Partners operates a huge amount of pipeline and other commodity transport services. About 45%, currently $1.6...