Chesapeake head says company not for sale

Associated Press

OKLAHOMA CITY -- The chairman and chief executive of Chesapeake Energy says the Oklahoma City-based company "is not and has not been for sale."

Aubrey McClendon says in an e-mail to Chesapeake employees that rumors last week of the company being the target of a takeover were rumors only.

McClendon says he couldn't respond to the rumors earlier because of a pending announcement on a joint venture with a Norwegian company to drill for natural gas in the northeastern U.S.

He says he regrets if the rumors caused employees any concern about their jobs or the well-being of Chesapeake.