Arm Holdings Plc approached Intel Corp. about potentially buying the ailing chipmaker’s product division, only to be told that the business isn’t for sale, according to a person with direct knowledge of the matter.

(Reuters) - Arm Holdings approached Intel about potentially acquiring the company's product division but was told that the business is not for sale, Bloomberg News reported on Thursday. The British chip firm did not express interest in Intel's manufacturing operations, the report added, citing a person familiar with the matter.

Arm Holdings approached Intel Corp about potentially buying the ailing chip maker’s product division, only to be told that the business is not for sale, according to a person with direct knowledge of the matter.