Key facts
- IDP Education rejected a takeover proposal from Blackstone.
- The offer from Blackstone was valued at approximately A$694.7 million ($492.89 million).
- IDP Education stated the offer substantially undervalued the company.
- Blackstone's offer was A$2.50 per share, a 56% premium to the stock's September 8 closing price.
- IDP Education's board considered the proposal 'highly opportunistic' given industry challenges and its transformation program.
Australia's IDP Education on Tuesday rejected a takeover proposal from Blackstone valued at approximately A$694.7 million ($492.89 million), stating the offer substantially undervalued the company. Blackstone Singapore had offered A$2.50 per share in cash, representing a premium of about 56% to the stock's September 8 closing price. IDP Education's board deemed the latest offer "highly opportunistic" given current industry challenges and its ongoing multi-year transformation program, adding that the proposal did not factor in the business's future earnings potential. Shares of IDP closed 20.7% higher at A$2.16 on Tuesday. The rejection comes as Australian companies have attracted a wave of takeover interest from private equity firms and overseas investors so far in 2026, though only a limited number of approaches have advanced beyond preliminary stages. Other Australian companies that have received takeover approaches this year include Atlas Arteria, BlueScope Steel, Cleanaway Waste Management, FleetPartners, Ingenia Communities, Perpetual, Reliance Worldwide, Suncorp, and Steadfast.