Engine Capital built Avantor stake, may push for sale, WSJ says

Engine Capital has built a 3% stake in Avantor (AVTR) and plans to push the company to sell itself or make other changes, Ben Glickman and Lauren Thomas of Wall Street Journal report, citing people familiar with the matter. Engine, which could disclose its stake on Monday, believes Avantor should either pursue an immediate sale or make changes that could include a board refresh, increased stock buybacks, cost cuts or selling noncore parts of its business, sources told the Journal. The activist believes the Avantor could sell for between $17 and $19 a share, according to the people. The stock closed Friday up 12c to $11.50.