This Bid Breaks A Big Latin Taboo
Welcome to the big time, Latin America. When Spanish oil company Repsol bid $13.4 billion to control Argentina's YPF on Apr. 30, it marked the region's entrance into the world of international megadeals. YPF's board announced that it was considering the offer and would meet again by May 13. Whether the company accepts the offer, holds out for more money, or looks for a rival bid, it appears inevitable that YPF will be sold to a foreign oil power.
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