Chip giant Qualcomm Inc. (NASDAQ:QCOM) reportedly approached its struggling competitor Intel Corp. (NASDAQ:INTC) for a possible takeover. What Happened: Qualcomm’s takeover attempt was in recent days,

Qualcomm has approached chipmaker Intel about a possible takeover in recent days, according to a Wall Street Journal report Friday.

Qualcomm recently approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation said, in what could be a transformational deal in the sector but faces many hurdles.