Sheraton-owner Starwood accepts higher offer from Marriott

[March 21, 2016]    (Reuters) - Marriott International Inc <MAR.O> said it made a higher offer for Starwood Hotels and Resorts Worldwide Inc <HOT.N> that was accepted by the owner of the Sheraton and Westin hotel brands.

The new stock-and-cash offer is worth $79.53 per share, or $13.6 billion, and tops an all-cash offer from China's Anbang Insurance Group Co, worth $78 per share, or $13.16 billion.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty)

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