Australia's IDP Education mulls Blackstone's revised $571 million takeover bid
BX•IDP Education's board is considering Blackstone's third takeover proposal, which values the company at about A$833.7 million ($571.17 million) and offers shareholders A$3 per share, a 36% premium to the last close. The board has not made a decision.
1. Revised offer
Blackstone raised its offer for IDP Education by 20% to A$3 per share in its third attempt to buy the company. Its earlier cash offers of A$2.50 and A$2.30 per share were rejected.
2. Business pressures
Tighter immigration and student-visa policies in major destination markets have affected international student flows. IDP has cut jobs, reduced its IELTS test-centre footprint and projected lower adjusted EBIT for fiscal 2027; its shares have fallen more than 61% this year.
