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WSP Global Withdraws an Unsolicited Offer to Acquire Arcadis

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WSP Global (WSP.TO) on Tuesday said it is withdrawing an unsolicited offer to acquire global design and consultancy firm Arcadis, as it has not been able to engage the company in discussions.

The engineering and infrastructure-solutions company formally offered to acquire Netherlands-based Arcadis in July, for 51.50 euros per share. However Arcadis declined to engage in negotiations.

"We approached Arcadis with a clear conviction regarding the strategic and industrial merits of a combination between our two organizations. While those merits remain strategically compelling, meaningful engagement is a necessary prerequisite to advancing a transaction," said WSP Chief Executive Alexandre L'Heureux.

WSP shares were last seen up CA$6.69 to CA$187.49 on the Toronto Stock Exchange.

Price: $190.23, Change: $+9.43, Percent Change: +5.22%

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Mining & Metals

Update: AtkinsRealis, Aecon, Secure Contracts with Ontario Power Generation

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Mining & Metals

Mark Carney's Government Introduces Bill C-39 to Speed Up Major Projects

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Mining & Metals

Elemental Royalty to Buy Orion Precious Metals Portfolio for $290 Million; CEO Resigns

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