Economy
Canadian Company Withdraws Bid for Arcadis and Abandons Takeover Attempt
WSP Global has withdrawn its bid to acquire Dutch advisory and engineering firm Arcadis, ending a takeover attempt that was rejected twice by the target company. WSP CEO Alexandre L'Heureux stated that constructive dialogue regarding transaction conditions was necessary but could not be achieved. Arcadis CEO Heather Polinsky had previously dismissed the unsolicited offers as opportunistic and aggressive, arguing they undervalued the company and that independent operation was more effective for shareholder value. The largest shareholder also indicated support for Arcadis's continuity, further complicating the potential deal which valued the company at approximately 4.7 billion euros.
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