WSJ reported that Qualcomm had approached Intel with a takeover proposal

According to the Wall Street Journal, sources familiar with the matter said that Qualcomm was trying to provide a lifeline to Intel by offering to buy it.

Intel has suffered a number of problems in recent years, and acquiring Qualcomm for the global chip market would be huge. The report quoted people familiar with the matter as a warning that it was not far from certain that they were taking over at this stage. The size of the deal is likely to be scrutinized by antitrust regulators because it will mean fewer competitors in the PC chip space.

Against this background, Intel shares rose in price, adding 3.3% and closing at 21.84. Qualcomm shares lost 2.9% to close at 168.92.