Intel Corp. is considering a range of acquisition alternatives in reaction to Broadcom Ltd.’s hostile pursuit for Qualcomm Inc. that could include a bid for Broadcom, according to people familiar with the matter.

Intel is watching the takeover battle closely and is eager for Broadcom to fail as the combined company would pose a serious competitive threat, the people said. If it becomes apparent that Broadcom is likely to prevail, Intel could step in with its own offer for Broadcom, the people said.

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