Why has Ultratech also joined the bidding for Ambuja and ACC?

Ultratech, the cement arm of the Aditya Birla Group, is the third big name after Adani and JSW group to join the race for the assets of Ambuja Cements and ACC. Holcim had decided to exit Ambuja by selling its 63% stake. Ambuja has a majority stake in ACC. In its plan submitted to Holcim, Ultratech has also outlined how to handle CCI concerns on dominance of cement market. Ultratech has cement capacity of 120 TPA while ACC and Ambuja jointly have 64 TPA. The winning bidder also has to make an open offer to shareholders.