Acardis has rejected another “unsolicited” acquisition bid from WSP Global.
Bosses said the second offer of €51.50 (£44.12) per share continues to “fundamentally undervalue” Arcadis’ “intrinsic value”.
New contract wins for Acardis amount to €4.0 billion (£3.7 billion), alongside the acquisition of Spanish data centre engineering firm, Satel, and its Q1 investment in AI tool, Nomic.
The unanimous rejection of WSP’s latest offer follows a previous attempt by WSP, for €48.50 per share (£41.50).
Last year WSP made a series of acquisitions including Ricardo, another professional services business and Lexica, a UK-based health and life sciences consultancy.
WSP operates across various sectors, from energy to infrastructure.
Arcadis chief executive Heather Polinsky said: “Our H1 2026 performance demonstrates that our growth trajectory is moving in the right direction.
“With a record backlog and clear momentum in our key markets, we are confident that our standalone strategy is the most effective path to creating value for our shareholders and stakeholders as we deliver on our stated medium-term financial targets.”
Acardis reported “strong momentum” in its half year results, with net revenue rising 2.2 per cent for the second quarter of 2026.
Meanwhile, operating EBITDA for the same period grew 11.4 per cent compared to 11.3 in 2025.
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