[Formula Presented] reaction near threshold

We analyze the total cross section data for [Formula Presented] near threshold measured recently at SATURNE. Using an effective range approximation for the on-shell [Formula Presented] S-wave final-state interaction, we extract from these data the modulus [Formula Presented] of the threshold transition amplitude Ω. We present a calculation of various (tree-level) meson exchange diagrams contributing to Ω. It is essential that [Formula Presented] emission from the anomalous [Formula Presented] vertex interferes destructively with ω emission from the proton lines. The contribution of scalar [Formula Presented]-meson exchange to [Formula Presented] turns out to be negligibly small. Without introducing off-shell meson-nucleon form factors the experimental value [Formula Presented] can be reproduced with an [Formula Presented]-coupling constant of [Formula Presented] The results of the present approach agree qualitatively with the Jülich model. We also perform a combined analysis of the reactions [Formula Presented] [Formula Presented] and [Formula Presented] near threshold.