Chipmaker Qualcomm Inc is in talks to buy NXP Semiconductors NV in a deal that could be valued at more than $30 billion, the Wall Street Journal reported.
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A deal could be struck in the next two to three months, the report said, citing people familiar with the matter.
However, the Journal also said it was possible there would no deal and Qualcomm was exploring other options. (http://on.wsj.com/2cZ0TUQ)
San Diego-based Qualcomm and Netherlands-based NXP did not immediately respond to requests for comment.
NXP shares were up 17.7 percent at $96.67 in afternoon trading on Thursday, while Qualcomm's were up 6.6 percent at $67.64.
(Reporting by Rishika Sadam in Bengaluru; Editing by Ted Kerr)