IDP Education shares slide after Blackstone takeover offer rejected

IDP Education shares dropped 6.9% to A$2.01 on Wednesday, giving back much of the previous session's sharp gain, which had been driven by public disclosure of a Blackstone takeover approach.

The company formally rejected Blackstone's A$2.50-per-share cash offer, marking its second rejection after it also declined an earlier A$2.30 bid. IDP described the proposal as "highly opportunistic" and argued that it did not reflect the company's fundamental value or the future benefits of its ongoing multi-year transformation programme.

With no transaction on the table, investors are now reassessing IDP's worth on a standalone basis, a sobering exercise given the company's recent financial trajectory. Statutory net profit collapsed by roughly 90% over two years to A$13.3 million in fiscal 2026, while student volumes fell 25% across its four key destination markets — Australia, the United Kingdom, the United States, and Canada — as tighter immigration and student visa policies weighed heavily on the business.

The wider market provided little support, with the ASX 200 up 0.2%.

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