Rite Aid ‘bears watching’ after CEO exit, Dealreporter says

After Rite Aid announced that its board of directors has appointed Elizabeth Burr as interim CEO, effective immediately, following Heyward Donigan’s departure from the company as president and CEO, Dealreporter told its subscribers that the situation "bears watching to see whether the retailer undertakes another take-private overture," contacts tell The Fly. The M&A-focused publication, which noted that it has written previously about how Rite Aid "has all the makings of an activist target," believes the news "would seem to leave RAD in an increasingly vulnerable position," contacts tell The Fly.