Intel Considering Possible Bid for Broadcom -- Report

Intel (INTC) is considering a possible bid for Broadcom (AVGO) , The Wall Street Journal reported on Friday.

Intel has been closely monitoring Broadcom's hostile takeover offer for Qualcomm (QCOM) , the Journal said, and could step in with a bid for Broadcom if that company's pursuit of Qualcomm is unsuccessful. The Journal based its report on unnamed people with knowledge of the situation.

"It is far from guaranteed that Intel would ultimately make such a move -- one of the people said it is unlikely -- and the complexity and size of such a combination would be enormous," the Journal said. "Broadcom currently has a market value of about $104 billion."

Intel could also decide "to make other, smaller acquisitions." Intel has a market value of nearly $240 billion.

In after-hours trading on Friday, Intel shares declined slightly, by less than 1%. Broadcom shares jumped 2.7% and Qualcomm gained 1.9%.

Jim Cramer and the AAP team hold a position in Broadcom for their Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AVGO? Learn more now.

This article was written by a staff member of TheStreet.

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