Like most emerging markets Argentina is unused to hostile takeover bids and certainly not those on the scale of Repsol’s bid for YPF. To some analysts the takeover is a case of a company with a poor investment record in Latin America — Spain’s oil company Repsol – gaining control of a well-managed firm – YPF has been remodeled since privatization with a clear strategy and strong balance sheet. They warn of the dangers of leveraged takeovers.
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