Intel Soars Following Qualcomm’s Recent Takeover Bid, Reports WSJ

Intel experienced a notable increase in its stock price on Friday following reports that Qualcomm had approached the struggling chipmaker regarding a potential takeover.

The share price of Intel Corporation closed more than 3% higher on Friday, after initially spiking over 7% in response to the news.

However, sources indicated that a deal remains uncertain. Even if Intel is amenable to a takeover, there are concerns surrounding potential regulatory scrutiny.

This year, Intel’s stock has declined by approximately 60%. The company previously boasted a market value exceeding $290 billion at its peak. The stock’s rise of 7% on Friday coincided with the publication of the takeover discussions.