Arcadis is assessing a second unsolicited approach from WSP for the acquisition of all its issued shares, following the rejection of an earlier proposal.
Revised offer under consideration
The conditional and non-binding proposal values Arcadis shares at €51.50 each, with consideration comprising cash and WSP stock.
Arcadis said its Executive Board and Supervisory Board were reviewing the revised terms with financial and legal advisers. No decision had been made at the time of the regulatory release.
Initial approach rejected
WSP’s first proposal valued Arcadis at €48.50 per share, with a significant proportion offered in WSP stock.
The Arcadis boards unanimously rejected that approach, concluding that it did not adequately reflect the consultancy’s intrinsic value, strategic position or future prospects.
Arcadis also identified unresolved concerns around strategic and cultural fit, deal certainty and the interests of wider stakeholders.
The company maintained that its existing strategy offered the potential to create shareholder value beyond that reflected in WSP’s proposal. It pointed to positive operational momentum during the first quarter of 2026 and ongoing measures intended to accelerate growth, improve margins and strengthen cash generation.
Arcadis said the revised proposal would be considered in the interests of shareholders and other stakeholders.
Image credit: Arcadis
Source: Arcadis press release
