The chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.

Qualcomm has reportedly approached Intel for a potential takeover, which, if successful, would mark one of the largest technology acquisitions ever, though the deal faces significant antitrust scrutiny.

The Wall Street Journal reported Friday that San Diego-based wireless giant Qualcomm has approached Intel about a possible takeover of the ailing chip maker.