BUZZ - Australia's IDP Education set for weekly gain on revised Blackstone acquisition offer

November 13 - ** IDP Education (IEL.AX) shares rose 14.5% this week; if the gains are sustained, this will be the company's best week since October 2.

** However, the stock still fell 0.6% that day.

(link) ** As a co-owner of IELTS, IDP Education said on Wednesday it had received a third buyout offer from private equity firm Blackstone (BX.N), currently valuing IDP at 3 Australian dollars per share and a total valuation of 833.7 million Australian dollars (567.5 million US dollars).

** This offer represents a 20% premium over Blackstone's previous bid (link).

** IDP said on Wednesday it was evaluating this increased offer, after which its share price rose more than 16%.

** Including the day's volatility, the share has fallen more than 56% so far this year.

(1 US dollar = 1.4691 Australian dollars)

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