Chesapeake Energy Corp., the worst-performing stock in the S&P 500 index last year, jumped the most since 2008 after a financial blog said the shale gas driller may be ripe for acquisition, Bloomberg News reported yesterday. The stock rose 20 percent to $2.39 yesterday for the biggest one-day increase since December 2008. Chesapeake has advanced for five consecutive sessions, racking up 50 percent in gains, after Bloomberg reported on Feb. 12 that the company plans to pay $500 million of debt maturing next month. Chesapeake, which pumps more U.S. natural gas than any producer other than Exxon Mobil Corp., is a “prime takeout candidate,” a contributor wrote on the Seeking Alpha blog Monday. Speculation that the heavily-indebted shale explorer may be headed for bankruptcy is unwarranted, the blog said. The company said earlier this month that it had no plans to pursue bankruptcy protection.
