IDP Education Board Rejects Second Blackstone Takeover Proposal

Blackstone made a second attempt to acquire IDP Education in September 2026, submitting a new proposal to purchase all shares at A$2.50 each. The board of IDP Education reviewed the offer and decided not to proceed, stating the bid did not reflect the company’s value.

The proposal from Blackstone was non-binding, confidential, and subject to several conditions, including due diligence, regulatory approvals, and a period of exclusivity. IDP Education’s board considered the terms and the valuation before reaching its decision.

According to company disclosures, this was not the first approach by Blackstone. An earlier offer at A$2.30 per share was also declined by the board, which maintained that both bids were unsolicited and did not align with shareholders’ interests.

IDP Education’s board consulted with its financial adviser, Goldman Sachs, and legal adviser, Mallesons, before making its decision. The board stated that the proposal did not account for the company’s global platform or its ongoing transformation program, which they considered important factors in assessing value.

What the numbers show

• Blackstone’s latest proposal was submitted on September 9, 2026.
• The offer price was A$2.50 per share, following a previous A$2.30 per share bid.
• IDP Education shares traded above A$2.50 as recently as late June 2026.

The proposal outlined several requirements, including final approval from Blackstone’s investment committee and a unanimous recommendation from IDP Education’s board. It also specified a four-week period of exclusivity without a fiduciary out for the board.

IDP Education’s board indicated that its assessment took into account recent share price performance. The company noted that its shares had traded above the offer price in the months leading up to the proposal.

Both proposals from Blackstone were unsolicited and did not result in any agreement between the parties. The board’s decision was communicated through an official disclosure on the Australian Securities Exchange.

IDP Education’s board concluded that the offers did not reflect the company’s future earnings potential or the progress made under its multi-year transformation strategy. The company’s response emphasized its commitment to maximizing value for shareholders through its existing business plans.

* This article is based on publicly available information at the time of writing.