WSP pulls plug on £3.8bn Arcadis takeover

Consultant WSP has pulled the plug on its attempted £3.8bn takeover of rival Arcadis after failing to win support from the Dutch group’s board.
The Canadian engineering giant said it would not pursue a public offer after concluding a deal could only be delivered through a negotiated transaction backed by Arcadis.
Its withdrawal ends a two-month takeover battle that saw Arcadis reject two unsolicited approaches, including an improved €51.5-a-share cash-and-shares proposal valuing