$700m Blackstone Bid Falls Short for IDP Education

IDP Education, Australia's largest listed provider of schooling for international students, has revealed that it received a $700m takeover bid from Blackstone more than two weeks ago.

The company rejected the offer because it undervalued IDP, citing a significant drop in its share price this year due to the Albanese government's restrictions on international student visas.

IDP Education's share price has been slashed by almost two-thirds since the start of the year, and the company had hoped for a more substantial offer from Blackstone.