Chip maker giant Intel is reportedly poised to gobble up smaller chip maker Altera Corp for $16 billion, according to Reuters.

The deal could be reached in the coming days, sources told Reuters, adding that no agreement was confirmed and asking not to be identified because the negotiations are confidential.

In April, Altera rejected an unsolicited $54 per share offer from Intel following months of negotiations, sources told Reuters at the time.

If the deal does go ahead, it would be the biggest acquisition for $160-billion-market-cap Intel, as we learn here.

Marketwatch notes this deal could “broaden Intel’s reach as PC demand wanes. Altera makes software-programmable chips used in many markets, including telecom and automotive. Intel uses Altera products in conjunction with its server chips.”

An Intel-Alcera deal could come at a key moment for chip makers. Worldwide PC shipments are expected to fall by 6.2 percent in 2015, forecasts IDC.