Bio-Techne (TECH) received a push from activist investor Ananym Capital Management to conduct a strategic review, including a potential sale, Bloomberg reported Monday, citing a letter the media outlet reviewed.
In the letter to the board, Ananym argued a sale to a larger industry player would deliver more value than Bio-Techne can achieve as a standalone company, the report said.
Ananym has built a stake in the life sciences company, according to the report.
Bio-Techne did not immediately respond to a request for comment from.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: $55.92, Change: $+1.92, Percent Change: +3.55%