Arcadis rejects $5.7 billion takeover bid from WSP Global

July 30 (Reuters) - Dutch engineering consultancy group Arcadis has rejected an improved €5.2 billion ($5.7 billion) takeover bid from Canada's WSP Global, it said on Thursday, adding that the latest offer still undervalues the company.

Reuters reported this month that WSP had been targeting Arcadis for more than a year, which prompted the Dutch company to disclose that it received two unsolicited offers from the Canadian group.

WSP's second offer for €51.50 per share valued Arcadis at about €5.2 billion including debt, according to Reuters calculations. Shares in the Amsterdam-based company have gained 18.9% since Reuters reported WSP's takeover interest.

"We are confident that our standalone strategy is the most effective path to creating value for our shareholders and stakeholders," Arcadis CEO Heather Polinsky said in a statement.

($1 = 0.8735 euros)

(Reporting by Gianluca Lo NostroEditing by Jacqueline Wong and David Goodman)