Rumor Mill: Indian Oil Co Wants to Buy Chesapeake Energy

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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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