OTTAWA (dpa-AFX) - WSP Global Inc. (WSP), an engineering, science and infrastructure solutions company, Tuesday announced that it has decided that it will not pursue a public offer to acquire all of the issued and outstanding shares of Dutch engineering and management consulting firm Arcadis N.V. (ARCAD.AS).
WSP still continues to believe that a combination of WSP and Arcadis would offer a compelling strategic rationale and generate substantial benefits for all stakeholders even though it was unable to engage with Arcadis on potential transaction terms.
Further, the WSP said that a value creation opportunity can only be realized through a negotiated transaction that is supported by the Arcadis boards and without such engagement, it is not in a position to advance the transaction.
On Tuesday, WSP shares closed at C$191.96, up 6.17% on the Toronto Stock Exchange.
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