Shares of ILG (ILG) , 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.

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