Editor's Note:

E&ENews PM will not publish Thursday, July 3, and the Fourth of July holiday. It returns Monday, July 7.

E&ENews PM headlines —

SPOTLIGHT

1. NATURAL GAS:

Top shareholder opens door to Chesapeake sale

Chesapeake Energy Corp.'s top shareholder today urged CEO Aubrey McClendon and the board of directors to consider selling the company, as the second-largest U.S. natural gas producer struggles to dig itself out of a growing $13 billion debt load. Southeastern Asset Management, based in Memphis, Tenn., and led by Mason Hawkins, sent a letter to McClendon and the board that criticized McClendon's plan for paying off debt and transitioning to higher-priced oil. It opened the door to shareholder support for an acquisition of Chesapeake.

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