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Intel For Broadcom? Street Blanches at Potential $170B Deal

Shares of Intel (INTC) are down 83 cents, or 1.6%, at $51.36, following that report from The Wall Street Journal late Friday that Intel is closely watching Broadcom’s (AVGO) hostile bid for Qualcomm (QCOM), and hoping Broadcom fails, so Intel can buy Broadcom. Broadcom shares are up $9.15, or 3.6%, at $262.99, while Qualcomm shares are up 7 cents at $63.10. Reuters’s Arunima Banerjee, Stephen Nellis, Peter Henderson, and Diane Bartz over the weekend wrote that Intel responded to them by refusing to comment on the speculation but also emphasizing Intel’s work integrating existing deals, like Mobileye: Intel said it does not comment on “rumors or speculation” related to mergers and acquisitions but that it is focused on its previous acquisitions.