CRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to people familiar with the matter, adding a potential new twist to the battle for SA’s largest cement maker. The Irish building materials supplier had held early deliberations about pursuing an acquisition, said the people, who asked not to be identified as the plans are not public. A final decision had not yet been made and the company might decide against an offer in favour of US acquisitions, the people said. Issues that had yet to be settled included how the Dublin-based company would tackle the requirement of a black economic empowerment deal, one of the people said. The takeover was also likely to require support from the Public Investment Corporation (PIC), Africa’s biggest money manager and a top shareholder in PPC. Representatives for CRH and PPC declined to comment. PPC’s future as an independent company has been clouded for months after talk...
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