Qualcomm approached Intel about a takeover in recent days: Report

Qualcomm had approached Intel for a takeover recently reports have shared.

Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Intel's shares closed up 3.3%, while Qualcomm was down 2.9%.

Intel has been attempting to turn its business around by focusing on its chip foundry unit and artificial intelligence processors, but its shares have plummeted in recent months as it cut jobs, suspended its dividend and faced a high-profile board member resignation.

A deal was far from certain, the WSJ report said, adding that even if Intel is receptive to an offer from Qualcomm, a deal of that size would attract antitrust scrutiny.

To get the deal done, Qualcomm could intend to sell assets or parts of Intel to other buyers, according to the report.

Intel declined to comment, while Qualcomm did not immediately respond to a Reuters request for comment.

Earlier this month, Reuters reported that Qualcomm explored the possibility of acquiring portions of Intel's design business to boost the company's product portfolio.