IDP Education (ASX: IEL) soars over 20% as Blackstone lifts its bid to $3
IDP Education (ASX: IEL) is up more than 20% this morning after Blackstone Singapore, on behalf of Blackstone and its affiliates, has submitted a revised, unsolicited and non-binding proposal to acquire 100% of IDP Education via a scheme of arrangement for A$3.00 per share in cash. The proposal values the education services provider at approximately A$835 million (US$573 million).
- The stock trading ~10% below the bid tells us it’s still not yet a “done deal.”
NB: The offer price would be reduced by the value of any dividends or distributions declared or paid after 10 November 2026.
- IDP’s board has confirmed it will consider the revised proposal, a notable shift from its earlier position that previous Blackstone approaches undervalued the company.
We feel IEL will eventually succumb to Blackstone, potentially in the $3.10-$3.20 region, i.e., it’s getting close.
