There was an error when using autoreconf -fi,

configure.ac:15: error: possibly undefined macro: AC_PROG_SED
If this token and others are legitimate, please use m4_pattern_allow.
See the Autoconf documentation.
autoreconf: /usr/bin/autoconf failed with exit status: 1

Removing AC_PROG_SED from line 15 worked.

autoreconf (GNU Autoconf) 2.59 was used. AC_PROG_SED checks to make sure you have a Posix-compliant version of Sed. Not sure why that's important....

http://www.gnu.org/software/hello/manual/autoconf/Particular-Programs.html

Rajeev