10:09 AM EDT, 10/07/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

Arcadium Lithium ( ARLTF ) shares surged more than 40% in recent Monday trading after Rio Tinto (RIO) made a non-binding approach to acquire Arcadium, the companies said Sunday.

Financial terms were not disclosed.

"There is no certainty that any transaction will be agreed to or will proceed," both companies said without providing additional details.

Price: 4.32, Change: +1.24, Percent Change: +40.29