A consortium of private equity firms led by Luxembourg-based CVC Capital Partners and including a subsidiary of Abu Dhabi Investment Authority (ADIA) has made a renewed bid for UK asset manager Hargreaves Lansdown (HL).
The latest offer values the online investment platform at US$6.9 billion, amounting to 1,140 pence per share.
It is an increase on the $6.05 billion bid that was tabled in May.
ADIA-backed consortium makes bid for Hargreaves Lansdown
While that earlier bid was rejected by the HL board, this latest offer has been unanimously accepted, according to a company statement reported by Bloomberg.
The consortium includes Platinum Ivy, a subsidiary of the Abu Dhabi sovereign wealth fund.
The ADIA is also part of a private equity consortium looking to acquire a stake in US private banking company Fisher Investments.