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Apache Corp. has rejected an ~$18.0 billion takeover offer from Anadarko Petroleum, according to multiple reports.
In response, Apache has tapped Goldman Sachs for defense. It remains unclear if there will be any further talks of a potential takeover of the company.
Apache boasts a large portfolio of assets, including acreage in the Permian (Midland & Delaware basins), Woodford, Eagle Ford and Duvernay. The company's primary focus is on the Permian Basin of West Texas and Eastern New Mexico.
Representatives from Apache and Goldman Sachs declined to comment.
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