Rumor Mill: Indian Oil Co Wants to Buy Chesapeake Energy

rumor millCarl Ichan, corporate raider and puppet master at Chesapeake Energy, must be rubbing his hands together in glee. The rumor mill is buzzing that Oil & Natural Gas Corporation Limited (ONGC), the state-run national oil company of India, is “aggressively” pursuing Chesapeake–to buy it. It appears ONGC wants to buy the whole company, although we don’t know that for sure. The ONGC/Chessy buzz has Chessy’s stock trading higher, which delights Mr. Ichan. Here’s what we’re able to find about this latest rumor…

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