Report: Nasdaq in Talks to Buy Philadelphia Exchange

The options exchange could fetch $250 million to $300 million.
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The Nasdaq Stock MarketI:IXIC is in talks to buy the Philadelphia Stock Exchange, according to The Wall Street Journal's online edition, citing people familiar with the matter.

The

Journal

reported that the two exchanges have been talking for months, but a deal isn't expected any time soon. But discussions have intensified in recent weeks as Nasdaq looks to break into the increasingly popular options business following its failed bid to buy the

London Stock Exchange

.

The Philadelphia exchange, the country's third-largest options exchange, could be valued at $250 million to $300 million, says the

Journal's

sources, an easily digestible sum for Nasdaq.