Platinum Asset Management will grant Regal Partners access to non-public information after the acquisitive hedge fund signalled it would consider increasing the value of its takeover bid for the three-decade old global equities firm founded by billionaire stock picker Kerr Neilson.

Platinum, which has around $12 billion under management, had rejected Regal’s approach late last month, saying that it undervalued the company. Mr Neilson, who still owns more than 21 per cent of the fund manager, has not said whether he backs the takeover bid for the firm.