One fund manager sees “more cons than pros” if the companies were to combine, after the Wall Street Journal reported that Qualcomm approached Intel about a possible deal.

A late-Friday report that Qualcomm recently made a "takeover approach" to Intel sent the latter company's shares higher.

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.