Oflops does not compile using automake-1.14

[aglenis]

When using automake-1.14 Oflops does not compile correctly on Centos 7.
Reverting back to the default Centos 7 automake-1.13.4 solves the issue.
When running boot.sh the output is the following:
[aglenis@test-server oflops-master]$ ./boot.sh

configure.ac:47: error: possibly undefined macro: AC_PROG_LIBTOOL
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

According to this:
https://code.google.com/p/snappy/issues/detail?id=43

The issue seems to be related to libtool.

Could anyone confirm this?