IDP Education Rejects Blackstone's $565.9 Million Takeover Bid
By David Winning
SYDNEY--IDP Education on Monday said it has rejected the latest takeover offer from Blackstone worth 835 million Australian dollars, equivalent to US$565.9 million, because it "substantially undervalues" the company.
Blackstone had offered A$3.00 per share in cash to acquire all of the shares of IDP Education, which helps to place foreign students at global colleges. The bid would be reduced by any future dividends declared by the Melbourne-based company.
IDP said Blackstone's proposal is opportunistically timed, given its earnings have been significantly affected by student-visa policies in key markets. IDP said it also doesn't reflect the benefits of its transformation strategy, which aims to drive earnings growth as student volumes stabilize.
"It is well below the level that the IDP Board would be willing to recommend to shareholders and hence it does not warrant further engagement with Blackstone," the company said.
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.
Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
November 15, 2026 17:04 ET (22:04 GMT)
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