Recall that Southeastern recently orchestrated the shift which forced out ex-billionaire Aubrey McClendon from Chesapeake Energy.
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Southeastern last year led a major campaign that eventually ousted Chesapeake Energy CEO Aubrey McClendon.
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Southeastern also got three directors on Chesapeake's board, pressuring Mr. McClendon to retire, effective April 1.
The deals gave Chesapeake "the Good Housekeeping stamp of approval in Asia, " says Mr. McClendon.
With McClendon out, a significant obstacle to the takeover of Chesapeake will have been removed.
It also had to face shareholder scrutiny over McClendon and his aggressive management style.
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This, after Hawkins and Cates had long defended McClendon and his aggressive spending on acquisitions.
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They revamped the Chesapeake Energy board last year, eventually leading to the exit of CEO Aubrey McClendon.
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As a result, no SEC regulation precludes McClendon from using his well plan stake as loan collateral.
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The dispute started a year ago when McClendon's Chesapeake Energy went on a land-leasing spree in Michigan.
McClendon e-mailed Hamm, according to Continental's lawsuit, inquiring about leasing the land, known as the Collingwood Shale.
Oklahoma City-based Chesapeake began looking to Asia as a source of capital, says Mr. McClendon, the CEO.
On Wednesday Oct. 8, Aubrey McClendon owned more than 32 million shares in America's largest natural gas producer.
Aubrey McClendon was forced to sell a gigantic stake in his company Chesapeake Energy because of margin calls.
In fact, Chesapeake CEO McClendon has been in talks with a variety of investors from India to Korea.
Not too long ago, billionaire CEO Aubrey McClendon agreed to drop his title as chairman of the board.
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"I can't comment on that based on the ongoing discussions, " was all Mr McClendon would say on the matter.
Harold Hamm, 65, and Aubrey McClendon, 51, are two billionaires who made their fortunes in the oil and gas business.
Usually Chesapeake Chief Executive Aubrey McClendon is keen to trumpet such deals.
McClendon points out that fracking has never killed anyone or destroyed a waterway.
However, Mr McClendon draws the line at the idea of adding people's homes.
Aubrey McClendon founded Chesapeake Energy in 1982 at the age of 23.
McClendon says the Haynesville shale formation in Louisiana and Texas holds serious potential.
"They didn't come over here and try to buy Chesapeake, " Mr. McClendon says.
McClendon spent widely even as prices declined, and the company approved large amounts of loans to finance the expansion.
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By the morning of Oct. 8, McClendon owned 32.5 million shares of Chesapeake.
Yet the tempest ignited in part by McClendon is far from fully concluded.
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Mr McClendon himself acknowledges "local advertising is going to be a critical part of any mapping or local search experience".
High debt levels and a scandal last year involving CEO Aubrey McClendon have also soured investor sentiment towards the stock.
Chesapeake Energy shares continued to rally, gaining 11%, over the news that controversial CEO Aubrey McClendon will leave in April.
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