Starwood Hotels & Resorts received a nonbinding offer from a consortium of Chinese firms led by Anbang Group Insurance Co. for $82.75 in cash per share. That tops Marriott's previous offer of $21 in cash per share and 0.8 shares of Marriott common stock for each share of Starwood common stock. The bid from Anbang, J.C. Flowers & Co. and Primavera Capital is "reasonably likely" to be considered a "superior proposal” to Marriott's, according to Starwood's board of directors.