Only a matter of time before Qualcomm takes over. Just another in a long line of "smaller" companies taking over their much bigger rivals. For example, the [now] German car giant Volkswagen Group is the owner of many well-known vehicle brands,holding majority shares in Audi, Scania, and Porsche, and also wholly owning Skoda Auto, Lamborghini, and Ducati.
Even the talk of a takeover must be very embarrassing for a company like Intel. However, I don't believe it will happen because it will be very hard to get approval from regulators.