
ILG Stock Spikes on Takeover Offer from Marriott Vacations
Marriott Vacations, the world's leading pure-play public timeshare company, reportedly offered ILG $30 per share.
Shares of ILG (ILG) - Get Report , a global provider of membership and leisure services to the vacation industry, were spiking nearly 7% in afternoon trading on Tuesday after Bloomberg reported that Marriott Vacations (VAC) - Get Report has made a takeover offer for the company.
Marriott Vacations, the world's leading pure-play public timeshare company, reportedly offered ILG $30 per share. The company closed on Tuesday at $28.70.
Shares of Marriott Vacations were jumping over 1% in afternoon trading on Tuesday.
Shares of ILG are higher over 55% year-to-date, while Marriott Vacations' stock is up nearly 50% this year.
More of What's Trending on TheStreet:
- Blankfein on Bitcoin: 'Folks Were Skeptical When Paper Money Displaced Gold'
- Meet the High-Powered New Uber Directors Representing 'Team Travis'
- Struggling Tesla Now Faces a Whole New Challenge From the Chevy Bolt
- Should You Take Gun Stocks Out of Your 401(k)?