Dutch engineering consultancy Arcadis has attracted takeover interest from several parties, including Canadian peer WSP Global, according to people familiar with the matter.
The bidders reportedly view the Amsterdam-listed firm as undervalued, though any potential deal faces significant structural hurdles, particularly regarding Arcadis's shareholder composition.
The reports mark a fresh development in the engineering and construction sector, where consolidation has been a recurring theme.
WSP Global, which has been active in the M&A space, is seen as a logical suitor given its similar business model and geographic footprint.
The interest suggests that private equity and strategic buyers are increasingly targeting mid-cap engineering firms with strong cash flows and international exposure.
Arcadis's shareholder structure is cited as a key complication.