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Qualcomm Approaches Intel for Potential Takeover; Intel Shares Surge 8%, Qualcomm Drops 4.9%

Sep 20, 2024, 07:35 PM

Qualcomm has recently approached Intel about a potential takeover, according to reports from the Wall Street Journal and Dow Jones. The news has caused significant market reactions, with Intel shares jumping nearly 8% and Qualcomm shares dropping as much as 4.9%. This potential acquisition comes at a time when Intel has been struggling, with its stock down 58% this year through yesterday. The takeover approach, made in recent days, has not yet been confirmed by either company. Intel stock trading was halted following the news.