Boart Longyear's (ASX:BLY) Ignominious Exit

Dec 28, 2023

∙ Paid

Drilling services company Boart Longyear (BLY AU) has agreed to a takeover by American Industrial Partners. Boart's five largest shareholders - collectively holding 98.86% of shares out - are supportive.
Highly-Leveraged Boart copped the brunt of the GFC, and never fully recovered. American Industrial Partners' Offer values Boart at A$543mn against its 2007 IPO value of A$2.3bn.
The takeover is expected to be completed in the first quarter of 2024. This is done.

Keep reading with a 7-day free trial

Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.