Who Can Buy Chesapeake (CHK)?

Chesapeake Energy Corporation (NYSE:CHK) has been one of the most talked about companies on the market as of late and its plight is certainly one of the most interesting. After corporate scandals and emergency loans the company's share price is rallying on the back of an activist investment from Carl Icahn.

Chesapeake's biggest upside is still the possible acquisition of the firm. Any firm seeking to do that faces a mountain of problems that might delay or ward off their attraction entirely. The company is struggling under a mountain of debt, about $13 billion, and is still running massive cash deficits. It is hoped...