Reuters: Private Equity: Icahn reports 7.6 pct Chesapeake stake, seeks to replace 4 directors

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Icahn reports 7.6 pct Chesapeake stake, seeks to replace 4 directors May 25th 2012, 20:19 Fri May 25, 2012 4:19pm EDT May 25 (Reuters) - Activist investor Carl Icahn reported a 7.6 percent stake in oil and gas company Chesapeake Energy Corp , and asked for at least four members of its board to be replaced. The corporate-raider-turned-activist investor wanted 2 board seats for his own representatives and 2 for Chesapeake's largest shareholder Southeastern Asset Management. Icahn holds 50.1 million shares in the company, according to a regulatory filing.

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