Shares of online publisher Demand Media Inc. jumped more than 14 percent on Monday following a media report that it had recently rejected a deal to be bought by a private equity firm.
Technology news website AllThingsD.com reported on Saturday that Demand Media turned down a bid worth up to $1.2 billion last week from Thomas H. Lee Partners. The report cited unnamed people close to the matter.
AllThingsD said that the Boston firm offered $11.28 a share for Demand Media. Representatives from Demand Media and Thomas H. Lee have not commented on the story.
Shares closed up $1.06, or 14 percent, to $8.31 on the New York Stock Exchange.
