Anadarko Petroleum Corp. approached Apache Corp. about a combination that would be the largest deal for an independent oil and gas producer in the U.S. this year, according to people familiar with the matter.
Apache rejected an initial proposal from its rival and is working with Goldman Sachs Group Inc. to advise on its options, according to the people, who asked not to be identified because the matter is private. It’s unclear whether talks will resume, other bidders may emerge, or Anadarko will walk away, the people said.
Representatives for Anadarko and Apache declined to comment.
Brazil Energy Insight 
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