 Rite Aid Corp. RAD, 10.81 gave further detail on the rejected takeover bid from private-equity firm Spear Point Capital Management, saying that the offer was not credible and did not warrant further exploration. Spear Point had said it would pay 14.60 for each Rite Aid shares outstanding, according to the New York Post, a a 97.3 premium to Tuesdays closing price of 7.40. 