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Qualcomm approaches Intel with an acquisition offer


Qualcomm, a U.S. semiconductor company, has approached Intel with an acquisition offer. Once the world’s leading semiconductor company, Intel is undergoing restructuring due to poor performance and is now even being considered a target for mergers and acquisitions (M&A).

The Wall Street Journal (WSJ) reported on Friday (local time), citing anonymous sources, that Qualcomm has approached Intel Corp. to discuss a potential acquisition of the struggling chipmaker. As of Friday, Intel’s market capitalization stands at $93.2 billion, and if the acquisition goes through, it is expected to be the largest “deal of the century” in terms of mergers and acquisitions in recent years.

This news comes amid Intel’s intense internal restructuring due to its current crisis. Last Monday, Intel announced a restructuring plan that includes spinning off its foundry (semiconductor contract manufacturing) division and halting factory construction projects in Poland and Germany for two years.

However, foreign media outlets, including the WSJ, have analyzed that regulatory hurdles, such as antitrust reviews by competition authorities, are significant obstacles to finalizing the acquisition. The sources who revealed the acquisition proposal also cautioned that the deal is not guaranteed. There is speculation that Qualcomm might sell off parts of Intel’s assets or businesses to make the deal happen. Following the news of the acquisition proposal, Qualcomm’s stock fell by 3% on the New York Stock Exchange, while Intel’s stock rose by 3%.

Do-Young Kwak now@donga.com



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