WSP Global tables second unsolicited offer for Arcadis

Canadian engineering group WSP Global confirmed on 24 July 2026 that it had submitted a second unsolicited, non-binding proposal to Dutch competitor Arcadis at €51.50 per share — a premium of around 45.8% to the unaffected share price of 22 July 2026. Arcadis rejected an initial offer of €48.50 per share, made on 1 July, on 14 July, saying it did not address concerns about strategic and cultural fit, deal certainty and stakeholder interests. The Arcadis boards have so far not accepted WSP's invitations to talk, and no binding agreement exists. WSP does not state a total transaction value — the reported figure of around US$5bn is press reporting (second source: BNN Bloomberg, 24 July 2026). UPDATE (30 July 2026): The Arcadis board unanimously rejected WSP Global's second non-binding proposal of €51.50 per share as value-destroying. Arcadis points to its own new medium-term targets and argues that the roughly half-equity component of the offer would mean higher leverage and a lower dividend yield. Update (22 Sep 2026): WSP Global has abandoned its takeover pursuit and will not make a public offer for Arcadis, citing the lack of meaningful engagement with the Arcadis board on transaction terms; Arcadis remains independent (Arcadis press release, 22 Sep 2026: https://www.arcadis.com/en/news/global/2026/arcadis-comments-on-wsps-decision-to-not-proceed-with-its-offer).