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Financial Times

Motivated seller Chesapeake between rock and hard places

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Sinopec, the Chinese state-owned energy company, has been buying U.S. shale assets in the hope of learning the latest techniques in unconventional energy exploration. Their $1-billion (U.S.) deal with Chesapeake, announced on Monday, suggests that they already know quite a bit about deal making.