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Benzinga
Benzinga
Business
Adam Eckert

What Caused Rite Aid Stock To Spike Today?

Rite Aid Rite Aid Corp New York Post

Rite Aid Corp (NYSE:RAD) shares closed Wednesday's regular session up more than 11% following a report suggesting the company rejected an $815 million takeover bid earlier this month.

According to a New York Post report, citing Spear Point Capital Management co-founder Ron Bienvenu, the private equity firm offered to buy Rite Aid for $14.60 per share. The stock was trading just shy of $9.40 per share at the time. 

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