RAD - Rite Aid bidder Spear Point plans to make case to holders on Thursday

Spear Point Capital, the investor whose bid for drugstore chain Rite Aid (NYSE:RAD) was rejected, plans to take his case to investors on Thursday. "I'm going to give the company an opportunity to reengage," Spear Point co-founder Ron Bienvenu told Seeking Alpha in an interview earlier this week. "If they won't reengage after we make our case, I assume the shareholders, if they like our case, will probably give them an earful. I think the company is grossly undervalued." Bienvenu sees the value in Rite Aid in its data and believes the data may be worth billions. He wants the company to allow him to assess the data so he can properly value it. "Healthcare and pharma data as a market is one of the most developed information marketplaces," Bienvenu said.  Bienvenu said that he Spear Point has a "de minimus" stake in Rite Aid. He admitted that the $14.60/share

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Rite Aid bidder Spear Point plans to make case to holders on Thursday