Dutch giant Arcadis has outbid Japanese rival Nippon Koei in the battle to takeover Hyder
Hyder’s board says the new offer from Arcadis - which values the company at £288M - is a 50p per Hyder share increase on the Nippon Koei bid and it now recommends Arcadis’ offer to shareholders.
Arcadis first bid for Hyder late last month. Its £256M bid was then trumped by a £268M bid from Japanese firm Nippon Koei. Hyder’s board recommended both to shareholders.
Arcadis directors said the bid offered a “compelling strategic rationale” and that it was “a natural step in Arcadis’ evolution as the world’s leading global design and consultancy firm”. It reiterated that the acquisition would strengthen its offering in infrastructure, buildings, water and natural resources as well as in new geographies.