Qualcomm Inc. has approached Intel Corp. to discuss a potential acquisition of the struggling chipmaker, people with knowledge of the matter said, raising the prospect of one of the biggest-ever M&A deals.

San Diego-based technology company recently made move to acquire computer processor and chip maker, according to the Wall Street Journal.

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.