Australia’s IDP Education mulls Blackstone’s revised $571 million takeover bid

Nov 11 (Reuters) – Australia’s IDP Education said on Wednesday its board was considering a revised takeover ​proposal from Blackstone, valuing the IELTS ‌English-language exam co-owner at about A$833.7 million ($571.17 million). Here are some more details: • Blackstone has raised its offer by ‌20% ​in its third attempt ⁠at buying out ⁠the firm • IDP Education shareholders will receive A$3 per share under the revised bid, about a ​36% premium to the stock’s last close • Blackstone-managed funds offered ⁠A$2.50 per share ⁠in cash for IDP ​in early September, following an earlier ​bid of A$2.30, both of which ‌were rejected • IDP said its board will consider the new offer and has not yet made ⁠any decision • Tighter immigration and student-visa policies across major destination markets have hit ⁠international ‌student flows, prompting IDP ⁠to cut jobs, curb its ​IELTS ‌test-centre footprint and project ​lower adjusted ⁠EBIT for fiscal 2027 • Shares have fallen over 61% this year ($1 = 1.4596 Australian dollars) (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by ​Sahal Muhammed)