Parexel Int'l  (PRXL) shares were up more than 7% Monday afternoon after the Wall Street Journal reported that the company has partnered with investment banks and is seeking a sale.

Parexel is a contract research organization that partners with drug companies to conduct clinical trials. Parexel has a market cap of about $3.5 billion and could fetch a price of about $4 billion, according to the Journal

Parexel has received interest from a group of activist investors, including Corvex Management which already has a large stake in the company. 

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