Big CONSOL Investor Presses Company to Sell Off Gas Division

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From SNL Financial:
On the same day the coal and gas producer CONSOL Energy Inc. was telling shareholders to brace for second-quarter losses when it announces earnings July 28, its largest shareholder advised that the CNX Gas Corp. division should be sold or spun off because it is undervalued inside CONSOL's corporate structure. 
Southeastern Asset Management Inc., headed by investor Mason Hawkins, said in an SEC filing July 20 that it would be talking to CONSOL management and potential buyers of the natural gas exploration and production arm, saying CNX Gas is worth more by itself than CONSOL's entire $4 billion market capitalization. 
"We believe these assets alone are worth demonstrably more than the company's total equity capitalization today, and they are unique qualitatively in comparison to peers given the company's fee ownership of many acres," Southeastern said in its filing. "This monetization could take the form of a spinoff or a sale of these assets." 
Southeastern reported that it owns 21% of CONSOL common stock.
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