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Starwood Hotels said a bunch of companies want to buy it, and now its stock is surging

Reuters,Akin OyedeleMar 14, 2016, 16:48 IST

Thomson ReutersA doorman's hat at Sheraton hotel, a brand of Starwood Hotels & Resorts Worldwide, is pictured in Warsaw

(Reuters) - U.S. hotel operator Starwood Hotels & Resorts Worldwide Inc said it received a non-binding offer from a consortium of companies to buy it for $76 per share in cash.

The news comes months after Marriott International Inc agreed to buy Starwood for $12.2 billion to create the world's largest hotel chain.

Starwood did not disclose the names of the companies that made the approach.

Starwood shares rose by as much as 7% in pre-market trading after the announcement. The shares had fallen about 13% over the past year.

(Reuters editing by Saumyadeb Chakrabarty)