IDP Education rejects Blackstone’s A$694.7m takeover offer
Australia’s IDP Education (ASX: IEL) said it rejected Blackstone’s takeover proposal valuing the firm at about A$694.7 million (about $493.79 million), saying the approach substantially undervalued IDP.
Australia's IDP Education ASX:IEL said on Tuesday it had rejected a takeover proposal from Blackstone that valued the company at about A$694.7 million ($493.79 million), saying the offer substantially undervalued IDP. The exchange rate was $1 = 1.4069 Australian dollars.