Rite Aid rejected a $3.6bn offer from Spear Point Capital.

Synopsis

Rite Aid, an American drugstore chain, rejected a $3.6bn offer from Spear Point Capital Management, a private equity firm. Rite Aid's board said the proposal was not credible as it had no evidence of financing and required multiple months of exclusivity, among other reasons.

Principals

target

Rite Aid

bidder

Spear Point Capital Management

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Market Context

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Seller Team (1)

heyward donigan

President and CEO at RITE AID

Manager

target

Deals

£ 2.87 B

Total Value

Bidder Team (1)

ron bienvenu

Co-Founder and Managing Partner at SPEAR POINT CAPITAL MANAGEMENT

Investor

bidder

Deal

£ 2.76 B

Total Value

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