Shares in Starwood Hotels & Resorts jumped more than 9 per cent on Tuesday after a reports said at least three Chinese companies are circling the US hotel operator.
Starwood shares rose $6.22 to $74.98 in afternoon trading in New York on the news, giving the company a market value of $12.6bn.
According to the Wall Street Journal, Shanghai Jin Jiang International Hotels, along with HNA Group, parent of Hainan Airlines. and sovereign wealth fund China Investment Corp., have each submitted a proposal to the Chinese government about making a bid.
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