SA’s PPC targets $700mln higher offer from Fairfax


JOHANNESBURG, Sept 15  – South Africa’s biggest cement producer PPC said on Friday it expected Canada’s Fairfax Africa Investments to raise its takeover offer that valued the firm at about 9.2 billion rand ($700 million).

The all-share offer from Fairfax and AfriSam on Sept. 4 valued PPC shares at 5.75 rand but expectations of higher bid, either from Fairfax or others such as Nigeria’s Dangote Cement, have kept them above that level. ($1 = 13.1363 rand) (Reporting by Nqobile Dludla; editing by David Clarke)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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