Boart says no developments on strategic review

Drilling services provider says it has been considering all options after restructure talk.

Boart Longyear (BLY) says it continues to consider all possible options for refinancing and recapitalisation in its strategic review, following news the drilling services provider has started talks with restructuring advisers to avoid going bankrupt. 

The group's shares were earlier placed in a trading halt after reports it has started working with insolvency practitioners that specialise in saving companies from collapse, as demand for drilling equipment from resources companies falls. 

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