JOHANNESBURG, Sept 15 (Reuters) - South Africa's biggest cement producer PPC PPCJ.J 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 AFRSMV.UL 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 DANGCEM.LG , have kept them above that level. = 13.1363 rand)