WSP Global Withdraws 5.08 Billion Dollar Arcadis Bid

WSP Global Inc. withdrew its 4.435 billion euro ($5.08 billion) proposal to acquire the Dutch engineering consultancy Arcadis on September 23. The Canadian firm stated it could not advance the transaction without meaningful engagement from the Arcadis board, concluding that a deal required a negotiated transaction.

Arcadis had previously rejected two unsolicited offers, including a bid of 51.50 euros per share. The Arcadis board argued that the proposals fundamentally undervalued the company and contained an excessive amount of WSP Global Inc. shares. Additionally, the board cited concerns regarding strategic execution, integration risks, and cultural fit.

Following the withdrawal, Arcadis shares fell approximately 6% in European trading. Arcadis Chief Executive Heather Polinsky announced the company would focus on protecting its culture and sharpening performance. Arcadis plans to provide an update on its 2027-29 medium-term strategy during a capital markets day on September 29.