JPMorgan Chase & Co. has reduced its stake in Spectris plc, the British industrial technology firm nearing a takeover by Kohlberg Kravis Roberts & Co.
According to a regulatory filing on Tuesday, the U.S. bank's total position in Spectris fell to 8.73% as of Oct. 17, down from a previously disclosed holding of 9.63%.
The bank's current holding consists of approximately 6.27% in direct voting rights and 2.45% through financial instruments, the filing showed.
The move comes as KKR finalizes its 4.15 billion British Pounds acquisition of Spectris, a deal on which JPMorgan's investment banking arm is acting as the sole financial adviser to KKR.
The stake reduction follows a period in September when the bank had increased its holding to nearly 10%.
The takeover has received key regulatory approvals from European authorities and is expected to close by the first quarter of 2026, according to Spectris.
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