Arm Holdings rebuffed by Intel after inquiring about buying product unit

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.

In the high-level inquiry, Arm didn’t express interest in Intel’s manufacturing operations, said the person, who asked not to be identified because the discussions were private. Intel has two main units: a product group that sells chips for personal computers, servers and networking equipment, and another that operates its factories.