Nyse Euronext is in talks to buy the American Stock Exchange (Amex) in a deal that could be worth around $350 million, according to a Wall Street Journal (WSJ) report.
The report, which cites people familiar with the matter, says privately-held Amex has been looking to consolidate for months and has explored sales to the Toronto Stock Exchange and Germany's Deutsche Börse. However Nyse Euronext is thought to be the front runner.
According to the report analysts believe the deal could be valued in the $350 million range if Amex sells for a premium to its current implied price of about $320 million.
A takeover would be the first major move by new Nyse chief executive Duncan Niederauer, who took over in December after former CEO John Thain moved to Merrill Lynch.
But the deal still faces obstacles, says WSJ, with Amex reported to be pushing for a premium price despite declining conditions in its core business lines in recent years.