** Shares of Galan Lithium GLN.AX rise as much as 38.1% to A$0.145, their biggest intraday percentage gain since November 19, 2020

** Stock hits its highest level since January 7

** The lithium explorer says it received and rejected a $150 million offer from Zhejiang Huayou Cobalt Co 603799.SS and Renault RENA.PA to acquire its stake in its Argentine assets

** About 19 million shares change hands, vs the 30-day average of 1.6 million

** Stock down 25%, YTD, including the day's move

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))