IDP Education receives revised $3.00 per share proposal from Blackstone
IDP Education Limited (ASX: IEL) received a further unsolicited, confidential and non-binding indicative proposal from Blackstone Singapore Pte Ltd following market close on 10 November 2026. The proposal was made on behalf of funds managed and advised by Blackstone Inc. and its affiliates.
Blackstone proposes to acquire 100% of the shares in IDP via a recommended scheme of arrangement at $3.00 in cash per share (the Revised Proposal). The price payable would be reduced by the amount of any future dividends or distributions declared or paid by IDP after 10 November 2026.
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Board position on the Revised Proposal
The Board unanimously rejected the prior proposals from Blackstone. It said they failed to reflect the fundamental value of IDP’s market leading global platform, substantially undervalued the Company and the timing was highly opportunistic.
The Board had already rejected the earlier $2.50 proposal after refusing a four-week hard exclusivity condition that carried no fiduciary out, a structural term that shaped how directors assessed the approach.
The Board will consider the Revised Proposal having regard to the best interests of shareholders as a whole, and has not made any decision. The company also set out the following status points:
- There is no certainty that the Revised Proposal will progress or result in a transaction.
- IDP shareholders are not required to take any action.
- IDP will continue to keep the market informed in accordance with its continuous disclosure obligations.
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