The Globe and Mail reports in its Friday edition that WSP Global is pressing ahead with plans to acquire Arcadis NV, despite having two unsolicited approaches rebuffed by the Dutch engineering and consulting group. A Reuters dispatch to The Globe quotes WSP on Thursday saying it would prepare an offer memorandum and submit it to the Dutch financial markets regulator for review by Oct. 15, although it did not disclose whether it planned to increase its latest offer. Arcadis rejected an improved proposal of 51.50 euros per share in July, after it was reported earlier that month that WSP was working on a possible bid. The offer valued Arcadis at about 5.4 billion euros, including debt. Prior to receiving the unsolicited bids, Arcadis's executive and supervisory boards had "formally interacted" with WSP at the Canadian company's request, Arcadis said in a statement, adding that both proposals fundamentally undervalued the company and were not in the interests of "shareholders, employees, clients and other stakeholders." Arcadis's boards have a "strong conviction" in the company's stand-alone strategy and medium-term targets, it added. The takeover attempt has helped lift Arcadis shares to around 44 euros from 34 euros.