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NEW YORK - Ralph DellaCamera, a member of the American Stock Exchange, said Wednesday in a letter to other members that the exchange should reject its sale to NYSE Euronext.
| NYX | 25.86 |  2.2 |
In January, NYSE Euronext agreed to acquire Amex for $260 million in stock, plus additional stock after NYSE Euronext sells Amex's former headquarters.
In the letter, DellaCamera said NYSE Euronext does not ascribe any value of Amex's 20 percent stake in the Options Clearing Corp. Members also will not reap any benefits from the sale of Amex's headquarters in New York for an indefinite time, DellaCamera said. Even when the headquarters are sold, fees and other expenses will limit the value Amex members would receive from the sale, he added.
DellaCamera also said Amex's chief executive, Neil Wolkoff, should not be entitled to a $5.3 million payment as part of the sale.
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