SOME (certainly not all) younger women are mostly interested in fashion, shopping, Pop Music, and other things that nearly all men find, well, frivolous. Older women are interested in more substantive things, which gives them something to talk about. My younger female friends watch "Say Yes to the Dress", "America's Next Idol" and other light fare. They tend to read "Vogue". More mature women watch CNN, The History Channel, Discovery, and read Time and Newsweek. Beyond that, young women seem to be interested in buff bodies and flash. Older women appreciate the more solid, and more stolid, characteristics.
Men like older women because they are earthier or they're pretty or sexy.
Also for the same reasons they would like any other age group
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They feel a sense of protection and older men usually have a job and can provide for the woman.