How did you arrive at a valuation of $20 Billion?
That would be a 59% premium to the market cap listed as of today, which would equal apx. $30.16 per share based on today's closing SP.
They may just decide to sell off portions of the company, or to break it up into separate companies like HESS (HES) announced it is doing.
HES rallied up as high as $70.77 today, apx 20% above its Friday close of $58.90 before closing today at $68.11, or apx. 15.56% over the Friday close.
Since only apx 1.2 million shares of CHK traded after hours today, how many millions of shares do the short sellers still need to cover tomorrow, forcing the SP of CHK higher as they battle each other to cover, as well as buyers like newbies or day traders that are looking for a quick flip of the shares?
(HK) Petrohawk Energy sold for $15 billion a year and a half ago . The closing of that business day the stock was down like .40cents at regular hours. Then news broke at around 8pm that night it went from $14.30 to $37 over night to BHP. CHK could bring $20 Billion and shorts would get crushed!!!