Economy
Why Engineering Firm Arcadis Rejected Canadian Rival WSP: 'Four Deadbolts on the Door'
Engineering firm Arcadis has rejected takeover bids from Canadian competitor WSP, which offered between 48.50 and 51.50 euros per share before withdrawing its interest due to Arcadis's resistance. Arcadis CEO Heather Polinsky cited significant cultural differences, emphasizing long-term client relationships over pure profit, while employee protections via the Lovinklaan Foundation further blocked the acquisition. Although Arcadis shares fell six percent following the news, the board maintains that WSP’s offer was too low and plans to boost results through a new strategy. However, Joost Schmets of the Shareholders Association (VEB) criticized the board for ignoring potential benefits and argued that the current culture has not yielded successful financial outcomes.
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