IDP Education Mulls Revised Proposal From Blackstone Worth $573 Million
By David Winning
SYDNEY--IDP Education said it is considering a revised takeover offer from Blackstone worth 835 million Australian dollars, equivalent to US$573.4 million, after previously rejecting earlier proposals from the private-equity group as too low.
IDP Education, which helps to place foreign students at global colleges, said Blackstone is now offering A$3.00 per share in cash to acquire all of its shares. The bid would be reduced by any future dividends declared by the Melbourne-based company.
Blackstone had made earlier bids for IDP Education, which receives a slice of tuition fees paid by the students it acquires on behalf of colleges, worth A$2.50-a-share and A$2.30-a-share.
"The board unanimously rejected the prior proposals from Blackstone on the basis that they failed to reflect the fundamental value of IDP's market leading global platform, substantially undervalued the Company and the timing was highly opportunistic," IDP Education said in a regulatory filing on Wednesday.
IDP Education's share price ended Tuesday at A$2.21.
Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
November 10, 2026 18:05 ET (23:05 GMT)
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