Tokyo Stock Exchange proposing tender offer for OSE: report

TOKYO (Reuters) - Tokyo Stock Exchange has proposed a tender offer for Osaka Securities Exchange Co <8697.OS> as the two bourses proceed in merger talks, Japan's Asahi newspaper reported on Tuesday.

The Tokyo exchange's plan includes buying all OSE shares to make it a wholly owned subsidiary, the paper said.

The Jasdaq-listed OSE is set to reject the plan, however, the report also said.

Japan's biggest and second largest stock exchanges have been in talks on possible business integration amid a flurry of mergers and alliances among global exchanges.

(Reporting by Mariko Katsumura; Editing by Joseph Radford)