Blackstone raises IDP Education bid to $3.00 as board weighs revised proposal

Blackstone lifts proposed IDP takeover price

Blackstone has raised the stakes in its pursuit of IDP Education Limited (ASX:IEL), offering $3.00 in cash for each share in a revised unsolicited proposal received after market close on 10 November. The approach seeks to acquire all of IDP through a proposed scheme of arrangement, but remains confidential, non-binding and subject to the company’s consideration.

The price would be reduced by the amount of any future dividend or distribution declared or paid by IDP after 10 November 2026. That adjustment means the headline $3.00 figure is not necessarily the final cash value shareholders would receive if the proposal progressed.

Board decision remains unresolved

IDP’s board unanimously rejected Blackstone’s prior proposals, arguing they failed to reflect the fundamental value of its global platform and substantially undervalued the company. The earlier second Blackstone proposal was priced at $2.50 per share.

The board will now assess the revised approach in the best interests of shareholders as a whole. It has not decided whether to support the proposal, and IDP said there is no certainty that it will progress or result in a transaction.

Shareholders face no immediate decision

For now, IDP shareholders are not required to take any action. The next material step would be a board position on the revised price and terms, or a further approach from Blackstone that changes the proposal’s structure or value. Until then, the bid offers a clearer test of what Blackstone is prepared to pay than a confirmed takeover path.