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. Last Updated: 07/27/2016

Repsol Bid Scrutinized

BUENOS AIRES, Argentina -- The board of Argentina's YPF SA energy company will ask an investment bank to review a $13.4 billion acquisition offer by Spain's Repsol SA.

The Argentinian oil giant did not specify which bank would be tapped for the review, but said Tuesday that YPF board members will meet again by May 13 to comment on Repsol's offer.

The bid announced last Thursday could lead to the latest merger in the rapidly consolidating oil industry. A deal would create one of the world's 10 biggest oil companies with revenue of more than $27 billion a year.