Carl Icahn Increases Stake in Chesapeake Energy

Billionaire investor Carl Icahn has increased his stake in Chesapeake Energy Corp., the second-biggest U.S. natural-gas producer, and wants to make the company more profitable, according to a regulatory filing.

Icahn increased his ownership to about 5 percent from 2.5 percent, according to the filing with the U.S. Securities and Exchange Commission. He has already had discussions with company officials about Chesapeake’s operations and “the maximization of shareholder value,” according to the filing, which was released after the close of trading today.