Nov 11 (Reuters) – Shares of Australia’s IDP Education were on track for their best day since August 2025 after the company said it was considering a revised takeover offer from Blackstone that valued it at about A$833.7 million ($571.17 million).
• Shares jumped as much as 28.5% to A$2.84, their biggest intraday gain since August 2025 and their highest level since mid-May
• Blackstone raised its offer by 20% in its third attempt at buying out the co-owner of the IELTS English-language test
• IDP Education shareholders would receive A$3 per share under the revised proposal, representing a premium of about 36% to the stock’s last closing price
• Blackstone-managed funds offered A$2.50 per share in cash for IDP in early September after an earlier A$2.30-per-share proposal, both of which were rejected
• IDP said its board will consider the latest offer but had not made a decision
• The revised bid follows a sharp decline in IDP’s share price amid weaker international student demand
• Tighter immigration and student-visa policies across major destination markets have weighed on international student flows, prompting IDP to cut jobs, reduce its IELTS test-centre network and forecast lower adjusted EBIT for fiscal 2027
• The stock has lost nearly 52% in value so far this year
($1 = 1.4596 Australian dollars)
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Sahal Muhammed and Sherry Jacob-Phillips)
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