Chipmaker Qualcomm approached its struggling rival Intel about a potential takeover in recent days, according to two people familiar with the matter. 

A deal is far from certain and no formal offer has been made, according to people with knowledge of the approach. A person close to Qualcomm said the chipmaker would only pursue a friendly deal, and people with knowledge of Intel’s thinking said the company harbours concerns that a deal would be stymied by antitrust regulators. 

A full takeover of Intel would top Microsoft’s $69bn acquisition of Activision as the largest technology deal in history. Intel’s market capitalisation was $93bn on Friday after its share price jumped 8 per cent following an initial report on Qualcomm’s approach by The Wall Street Journal.