Cemex ups the ante

Cemex has upped the ante. The Mexican company has raised its bid for Australian rival Rinker Group by 22 per cent to $14.2 billion, in a move which has reportedly won the backing of the Rinker board. Should the deal go through it will provide Cemex, the world's third largest cement maker, with a bigger slice of the U.S. market, while also establishing a foothold in Australia. It would also be a record deal for the Australian market. Rinker does a large portion of business in the U.S. market and the downturn in the North American housing sector has affected business confidence. The situation has contributed to making Rinker less attractive to other potential bidders, acccording to stock watchers. This one isn't done yet. Your comment?