Demand Media (DMD) Surges on Near-Deal to Go Private

April 30, 2012 7:06 AM EDT
Shares of Demand Media, Inc. (NYSE: DMD) are surging in pre-open trading Monday following reports from AllThingsD over the weekend that the comapny was in advanced talks with private equity firms to go private.

The deal, which would have been doubled the current price, fell apart last week, the report said. Boston-based Thomas H. Lee Partners was set to purchase the company for $1.2 billion before challenges arose on financing and the ability to retain executives.

Demand Media is bid 49% higher to $10.80.

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