Rejection of opportunistic unsolicited proposal

Key points

• IDP Education rejected Blackstone's $2.50 per share bid
• The board deemed the offer undervalued IDP's potential
• IDP confident in its transformation strategy and future growth
• IDP shares traded above the bid price in late June 2026

Full summary

IDP Education Limited (ASX: IEL) has confirmed the rejection of an unsolicited, confidential, non-binding and indicative proposal from Blackstone Singapore Pte Ltd to acquire 100% of the company's shares at $2.50 in cash per share. This follows a previous rejected proposal at $2.30 per share. The IDP Board, after due consideration and advice from financial and legal counsel, rejected the proposal, stating it fails to reflect the company's fundamental value and is not in the best interest of shareholders. The board believes the proposal is opportunistic and does not account for the company's future earnings potential and the benefits of its ongoing transformation program.