Blackstone Takes Aim at IDP Education Amid Visa Reforms

IDP Education, a former stockmarket darling that has seen its shares plummet from nearly $39 in 2021 to $2.16 apiece this year, is reportedly facing acquisition interest from a global private equity firm.

The financial sponsor made an unsolicited approach to acquire the company amid visa woes caused by the Albanese government's sweeping overhaul of international student visas.

IDP Education has lost a significant chunk of its market capitalization this year due to the visa changes, which have negatively impacted the company's operations.