Lennon confirmed on Friday that his club had turned down the bid after reports emerged in England of an offer in the region of £5million.
Lennon said: "The bid has been rejected. We had discussions with his representatives (on Friday morning) and we are waiting to hear back from them."
Celtic have been attempting to persuade the English striker to extend his contract, which expires at the end of next season.
Lennon, whose team face Juventus in the last 16 of the Champions League next month, said: "We are in a good position. We don't want to sell, we feel we have a lot to look forward to in the second half of the season.
"We don't want any of our top players to go and Gary comes into that bracket."
Lennon added: "I've not spoken to him because I was with his representatives most of the morning. I'm sure they'll have a discussion later on.
"Our case is simple - you are not going.
"He has a year and a half on his contract and he's a Celtic player."
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