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According to the Wall Street Journal, activist investor Engine Capital has taken a stake in Avantor company and plans to push for the company to sell or undergo other reforms. The report stated that Engine Capital already holds about 3% of Avantor's shares and believes that the company should seek to immediately sell Avantor or make changes, including increasing stock buybacks, cutting costs, or selling non-core businesses. Engine believes that Avantor could be sold at a valuation of $17-19 per share, while the stock's closing price last Friday was $11.50.
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