RAD - `Stop it' with the takeover talk for Rite Aid analyst says

A potential purchase of Rite Aid (NYSE:RAD) by a relatively unknown activist investment firm doesn't make sense, according to a Deutsche Bank analyst, who recently cut the drugstore chain to a sell rating.  Rite Aid (RAD) shares surged earlier, though they pared gains to 11%, after a NYPost report that investor Spear Point Capital offered to buy the company for $14.60/share, or about $815 million, an offer that was rejected by the company. "From what little news we can find about Spear Point, the firm has never put $50mm of capital to work in a deal, so the idea that it is pushing for ~$4B EV transaction with Rite Aid seems to make little sense to us," Deutsche Bank analyst George Hill, who has a $2 price target on the stock, wrote in a note. Rite Aid reportedly rejected the deal because of amount of debt that the investor who have

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`Stop it' with the takeover talk for Rite Aid, analyst says