NYSE Euronext in talks to buy Amex: reportA deal could be valued at about $350 million if the nation's biggest stock market operator snaps up its smaller rival.NEW YORK (CNNMoney.com) -- The owner of the New York Stock Exchange is reportedly in talks to buy its smaller competitor, the American Stock Exchange. A purchase of the closely held Amex by NYSE Euronext (NYX) could be valued at $350 million, according to the Wall Street Journal. The Amex has been looking at possible combinations for months, the Journal reported, including a sale to exchange operators in Canada and Germany. A $350 million price tag would represent a 9.4 percent premium over its current implied price of about $320 million according to analysts cited by the Journal. A deal would mark NYSE chief executive Duncan Niederauer's first big move since he replaced John Thain, who left to become Merrill Lynch's (MER, Fortune 500) CEO late last year. |
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