Highlights
- Student placement group turned away private equity interest it called opportunistic
- Weak visa settings have left earnings and the share price badly depressed
- The board now owns the task of proving the standalone case
IDP Education
remains under close watch this month after its board rebuffed a pair of unsolicited takeover approaches from Blackstone, insisting the private equity giant's cash proposal badly undervalued the student placement and English testing group. As IDP Education continues operating within the ASX 300, growing attention is also being directed towards ASX Value Stocks as companies across the sector navigate changing market conditions.
For readers following the ASX All Ords and ASX news today, IDP Education remains among the stocks to watch.
A rebuff with consequences
IDP helps students across Asia and beyond find places at universities abroad, and co-owns a major English language test. Its board unanimously rejected the latest non-binding proposal, describing it as highly opportunistic and against the interests of owners of the stock.
Saying no is the easy part. Having turned down a cash offer pitched above recent trading levels, the board now car...