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.

Qualcomm is reportedly in early talks for a potential acquisition of Intel, valued at $122 billion. Despite Intel’s declining performance, Qualcomm believes an all-American merger might ease antitrust concerns.

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