Menu
POTENTIAL DEAL DETAILS
| Stock | Intel Corp. | Symbol | INTC |
| Date Announced | 09/20/2024 | Source | WSJ |
| Type | News Report |
The Wall Street Journal reported that chip giant Qualcomm (QCOM) made a takeover approach to rival Intel (INTC) in recent days.
A deal is far from certain. Even if Intel is receptive, a deal of that size is all but certain to attract antitrust scrutiny. However, it could also be seen as an opportunity to strengthen the U.S.’s competitive edge in chips. To get the deal done, Qualcomm could intend to sell assets or parts of Intel to other buyers.
Intel Corp. Investor Relations
Qualcomm Inc. Investor Relations
Update(s):
September 21, 2024: Bloomberg reported that Broadcom (AVGO) is not currently evaluating an offer for Intel (INTC). The company had previously been assessing whether to pursue a deal.
September 22, 2024: Bloomberg reported that Apollo Global Management (APO) has offered to make a multibillion-dollar investment in Intel (INTC). The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much as $5 billion in Intel. Intel executives have been weighing Apollo’s proposal.
September 26, 2024: Bloomberg reported that Arm Holdings Plc approached Intel (INTC) about potentially buying the chipmaker’s product division, only to be told that the business isn’t for sale. Arm didn’t express interest in Intel’s manufacturing operations.
October 14, 2024: Bloomberg reported that Qualcomm (QCOM) is likely to wait until after the U.S. presidential election in November before deciding whether to pursue an offer to buy Intel (INTC). San Diego-based Qualcomm wants greater clarity on the new occupant of the White House before deciding its next move because of the impact any future administration would have on the antitrust landscape and America’s relationship with China. Qualcomm could opt to wait until after the inauguration of the new US president in January before deciding how to proceed, given the many complexities of a potential transaction involving Intel. Qualcomm made informal inquiries with antitrust regulators in China to gauge their stance on any possible deal after its preliminary approach. Qualcomm hasn’t received any feedback from Chinese authorities, which are waiting to see if the company makes a formal bid. Qualcomm has been speaking with US regulators and believes an all-American combination could allay any concerns.
November 25, 2024: Bloomberg reported that Qualcomm’s (QCOM) interest in pursuing an acquisition of Intel (INTC) has cooled. The complexities associated with acquiring all of Intel have made a deal less attractive to Qualcomm. It’s always possible Qualcomm looks at pieces of Intel instead or rekindles its interest later.
December 2, 2024: Intel (INTC) announced that CEO Pat Gelsinger retired from the company and has stepped down from the board of directors, effective Dec 1, 2024.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.