According to Bloomberg, Africa’s richest man, Aliko Dangote is reportedly considering counter-offers for PPC Group Ltd. that could signal a bidding contest for South Africa’s largest cement maker, according to people familiar with the matter.
Dangote Cement Plc sees a bid for the Johannesburg-based company as a way to accelerate expansion outside its home market of Nigeria, said the people, who asked not to be named as the matter is private.
PPC will consider any rival offers to the joint approach by Canada’s Fairfax Financial Holdings Ltd. and domestic rival AfriSam Group Pty Ltd. and present them to shareholders in early October, one of the people said.
