Barclays Bank has increased its buyout bid for ABN Amro to $93.4 billion, it has been confirmed.
The British bank's offer now includes a cash component equivalent to 37 per cent of the bid - up 4.3 per cent from its initial offer.
Barclays' improved bid has been facilitated through a cash injection from China Development Bank (CDB) which has pledged initial funding $3.04 billion and will provide a further $10.5 billion should the bid for the Dutch bank prove successful.
It is understood that the deal will see CDB take a seven per cent stake in Barclays.
Meanwhile, Tesmasek Holdings, the investment arm of the Singapore government, has pledged $1.93 billion, and a further $3.04 billion if the ABN Amro bid is accepted and will take a three per cent stake in Barclays.
The revised bid equates to $49.4 per share, meaning it remains lower than the rival offer tabled by the Royal Bank of Scotland-led consortium which stands at $53 per share.
The current offer from the consortium stands at $99 billion and is 93 per cent cash.