
Shares of life science firm Avantor AVTR.N rise 8% to $12.44
Activist investor Engine Capital, which owns about 3% of co's shares, sent a letter to the company's board saying it believes co's shares are "deeply undervalued" and called for its board to be refreshed with new directors
Engine urges Avantor to consider a sale, estimating a potential transaction to value the company's shares between $17 and $19
*Avantor says its board is "actively engaged" in setting and executing strategy that is in the best interest of the company and its shareholders
"We look forward to an ongoing dialogue with all our shareholders, including Engine Capital" - Avantor
Up to last close, stock down 45.4% YTD