Arcadis board rejects WSP Global’s revised €51.50‑per‑share takeover proposal

Arcadis, the Amsterdam‑based engineering and consultancy firm, announced that its Executive Board and Supervisory Board unanimously rejected a second unsolicited, conditional and non‑binding proposal from Canada’s WSP Global Inc. The revised offer valued Arcadis at €51.50 per ordinary share in cash and WSP stock, after an earlier bid of €48.50 per share had also been turned down.

The boards said the proposal fundamentally undervalues Arcadis, includes a large stock component that changes the risk profile for shareholders, and carries significant execution, cultural and integration risks. CEO Heather Polinsky emphasized the company’s strong first‑half 2026 performance, record backlog and confidence in its standalone strategy. Arcadis also maintains protective shareholder structures and foundations that can intervene in hostile takeover attempts.