WSP Global withdraws takeover bid for Arcadis

WSP Global, a Canadian engineering and consulting firm, has ceased its attempts to acquire the Dutch company Arcadis. The Canadian firm decided to withdraw its bid after failing to engage in constructive dialogue with Arcadis regarding the terms of a potential transaction.

WSP Global had made two separate offers this summer, with the most recent proposal valuing Arcadis at approximately 4.7 billion euros. The final offer consisted of 51.50 euros per share, a combination of cash and stock. WSP CEO Alexandre L’Heureux stated that while the strategic and industrial advantages of a merger remain convincing, a dialogue was a necessary condition to move forward.

Arcadis had previously rejected the unsolicited bids, maintaining that they did not reflect the company’s true value. CEO Heather Polinsky described the takeover attempts as “opportunistic” and “a bit aggressive,” asserting that remaining independent was the most effective way to create value for shareholders. Arcadis, which employs over 34,000 people globally in infrastructure, water, and environmental services, will continue to operate independently.