Seadrill Surges as Short Wagers Squeezed Amid Bailout Talk

Updated on
  • CEO says restructuring unchanged, `good talks' with banks
  • Speculation over billionaire Fredriksen's plans is `guesswork'

Seadrill Ltd., the offshore driller struggling with the industry’s biggest debt load, surged by a record for a second day as investors covered short bets amid speculation of a lifeline from the company’s biggest shareholder, billionaire John Fredriksen.

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