WSP Global Moves Ahead With Arcadis Takeover Plan After Rejections
WSP Global said it will press ahead with plans to acquire Arcadis despite two unsolicited approaches being rebuffed. Arcadis rejected an improved €51.5 per share proposal in July, valuing it at about €5.4 billion including debt. Arcadis’ boards argue the bids undervalue the company, and an employee foundation holding 19% plans no support. WSP will prepare an offer memorandum for Dutch regulator review by Oct. 15.