Key Takeaways Qualcomm reportedly came to Intel recently with interest in a potential takeover.Such a deal could offer a lifeline for Intel's foundry business and position Qualcomm as a dominant player in the PC processor market.

Qualcomm Inc. has approached Intel Corp. to discuss a potential acquisition of the struggling chipmaker, people with knowledge of the matter said, raising the prospect of one of the biggest-ever

However, the WSJ reports that a deal is "far from certain," according to sources familiar with the matter. Intel may or may not be receptive to the deal, which makes sense when you consider Qualcomm could tear Intel apart by selling assets or part of the company to other buyers.