Australia's IDP Education mulls Blackstone's revised $571 million takeover bid

Nov 11 (Reuters) - Australia's IDP Education IEL.AX said on Wednesday its board was considering a revised takeover proposal from Blackstone BX.N, valuing the IELTS English-language exam co-owner at about A$833.7 million ($571.17 million).

Here are some more details:

• Blackstone has raised its offer by 20% in its third attempt at buying out the firm

• IDP Education shareholders will receive A$3 per share under the revised bid, about a 36% premium to the stock's last close

• Blackstone-managed funds offered A$2.50 per share in cash for IDP in early September, following an earlier bid of A$2.30, both of which were rejected

• IDP said its board will consider the new offer and has not yet made any decision

• Tighter immigration and student-visa policies across major destination markets have hit international student flows, prompting ‌IDP ⁠to cut jobs, curb its IELTS test-centre footprint and project lower adjusted EBIT for fiscal 2027

• Shares have fallen over 61% this year

($1 = 1.4596 Australian dollars)