An Australian education company for displaced people is considering a takeover bid from Blackstone Investment Fund for 833.7 million Australian dollars ($571.17 million), Reuters reports. Blackstone raised the purchase price back by 20% to A$3 per share, a 36% premium to the last closing price. IDP previously rejected two offers from the fund. The business of the company, which shares ownership of the IELTS language test, has been hit by the tightening of student visa rules in key markets, causing its shares to fall 61% since the start of the year.

An Australian education company for displaced people is considering a takeover bid from Blackstone Investment Fund for 833.7 million Australian dollars ($571.17 million), Reuters reports. Blackstone raised the purchase price back by 20% to A$3 per share, a 36% premium to the last closing price. IDP previously rejected two offers from the fund. The business of the company, which shares ownership of the IELTS language test, has been hit by the tightening of student visa rules in key markets, causing its shares to fall 61% since the start of the year.