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The
news comes four months after Marriott International Inc agreed
to buy Starwood for $12.18 billion to create the world's largest
hotel chain.
Starwood did not disclose the names of the companies that made
the approach, but Marriott said in a separate statement that the
consortium was led by China's Anbang Insurance Group.
Marriott said it remained committed to the Starwood acquisition.
Anbang has also agreed to buy Strategic Hotels & Resorts Inc
from Blackstone Group LP for around $6.5 billion, a person
briefed on the matter told Reuters on Saturday.
The consortium's offer of $76 per share for Starwood excludes
the amount shareholders will receive as part of the previously
announced sale of Starwood's vacation ownership business,
currently valued at about $5.50 per Starwood share.
Interval Leisure Group said in October it would buy Starwood's
vacation ownership business, Vistana Signature Experiences, then
valued at about $1.5 billion.
Marriott's offer of $72.08 per share in stock also excluded the
vacation ownership business.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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