Why Intel Is So Wary of a Broadcom-Qualcomm Merger

The revelation that Intel Corp. is considering buying Broadcom Ltd., a company valued at more than $100 billion, shows the depth to which the chip giant feels threatened by a potential tie-up between Broadcom and its rival Qualcomm Inc.

Since late last year, Intel has been exploring a bid for Broadcom to forestall that company’s $117 billion offer for Qualcomm in what would be the biggest-ever tech deal, people familiar with the matter told The Wall Street Journal in an article published Friday. Intel’s interest in derailing...