Chesapeake (CHK; $17.25–Dec. 17; Neutral; PT: $17.27)The company reached a definitive agreement with Access Midstream Partners (previously Chesapeake Midstream Partners CHKM) to sell the majority of remaining CMD assets for $2.16 Billion. When all is said and done, Chesapeake should cash in total proceeds from the midstream business of $4.875 billion. According to our understanding, GIP, Access' sponsor, had originally planned to take the assets in house and drop them down over time, but......
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