Dan Loeb Takes A Bullish Position As He Buys Chesapeake Energy Bonds

There is now some clarity on activist investor Daniel Loeb’s big investment in Chesapeake Energy Corporation (NYSE:CHK) reported by us here. In fact, the energy company became his fourth largest, and newest holding in June. However, the nature of the investment was not known, and given his activist leanings, and Chesapeake’s governance problems, it was fair to assume it was a long equity position. However, those speculations have been laid to rest by Katya Wachtel in her Reuters blog. It turns out Dan Loeb has been buying up Chesapeake’s bonds, and not equity. She also speculates that this time around he…