Boart Longyear launches IPO

US-based drilling services contractor Boart Longyear Ltd has announced plans to raise up to $2.7 billion through its initial public offer on the ASX, after acquiring four Western Australian drilling firms in the past eight months. The company acquired Drillcorp for $134 million, Grimwood Davies for an estimated $50 to $100 million, North West Drilling and KWL.

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