IDP Rejects $494m Blackstone Takeover Bid

IDP Education, co-owner of the IELTS English-language test, has rejected a takeover bid from private equity giant Blackstone valued at roughly $494 million, as reported by The PIE News and Investing.com citing Reuters.

According to reports, Blackstone had submitted a sweetened offer, but company leadership opted to spurn the proposal. Further details regarding the negotiations and the reasoning behind the rejection have not yet been disclosed.