is in talks to buy U.S. investment bank
in a deal that could be worth between $1.2 billion and $1.5 billion, according to
The Wall Street Journal
, citing people familiar with the matter.
A deal between the two would increase Dresdner's presence in mergers and acquisitions in the U.S. Wasserstein Perella is the fifth-largest merger-and-acquisition adviser in the country, and Dresdner's investment house
Dresdner Kleinwort Benson
reported that although merger talks are in advanced stages, the companies still have not agreed on a price, so talks could still collapse.
The talks follow on the heels of several major deals in financial services.
Credit Suisse First Boston
announced last month that it is
Donaldson, Lufkin & Jenrette
. And in
July Swiss Bank
agreed to buy