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

Disappointing Retail Sales Present Another Obstacle for J.C. Penney

Disappointing Retail Sales Present Another Obstacle for J.C. Penney

Canopy Growth to Buy Pot Research Company Ebbu in $19.2 Million Deal

Canopy Growth to Buy Pot Research Company Ebbu in $19.2 Million Deal

Dow Fluctuates After Wall Street's Sharp Tumble Last Week

Dow Fluctuates After Wall Street's Sharp Tumble Last Week

Constellation Brands COO Discusses Investing in Canopy Growth

Constellation Brands COO Discusses Investing in Canopy Growth

J.C. Penney Stock: Sears Bankruptcy May Only Offer a Temporary Reprieve

J.C. Penney Stock: Sears Bankruptcy May Only Offer a Temporary Reprieve