Apache reportedly a takeover target

09 November 2015, News Wires – US independent Apache has reportedly rebuffed an $18 billion takeover offer from an unnamed buyer.

Apache-Corporation-APABloomberg cited unnamed sources as saying Apache had rejected the unsolicited takeover approach and was working with financial adviser Goldman Sachs Group on a defence.

Bloomberg’s sources said the offer was received “in the past few weeks” and it was unclear if talks would resume following Apache’s initial rejection of the offer.

Reports of the takeover offer come just days after the US company posted a $5.7 billion loss following write-downs as a result of low oil prices.



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