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) 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:

More from Stocks

Listen Carefully for These Clues of an Economic Slowdown

Listen Carefully for These Clues of an Economic Slowdown

Exxon Mobil Can Be Bought Here for an Upside Move

Exxon Mobil Can Be Bought Here for an Upside Move

Electronics for Imaging Tanks After Revising Guidance Lower

Electronics for Imaging Tanks After Revising Guidance Lower

Stocks Rise, Dow Trades Higher as Goldman Sachs Jumps After Strong Earnings

Stocks Rise, Dow Trades Higher as Goldman Sachs Jumps After Strong Earnings

Snap Shares Dive as CFO Stone Resigns After Eight Months With Messaging Group

Snap Shares Dive as CFO Stone Resigns After Eight Months With Messaging Group