Sheraton-owner Starwood accepts higher offer from Marriott

Starwood Hotels and Resorts Worldwide Inc , owner of the Sheraton and Westin hotel brands, agreed to a higher $13.6 billion buyout offer from Marriott International Inc , spurning a proposal from China's Anbang Insurance Group. Marriott raised the cash portion of its offer to $21 per share from $2, valuing its new stock-and-cash offer at $79.53. Marriott was down 1.2 percent at $72.22.