JP Morgan Cazenove has emerged as the third adviser to US private equity firm Texas Pacific Group which today raised its hostile indicative bid for British Vita, a UK-listed chemicals company, by 5.4% to £658m (€944.7m).

Julian Cazalet, leading the JP Morgan Cazenove team, said it had been on the Texas Pacific ticket since the firm first made an offer of 325p a share last month, but has only just publicly emerged.