Sony would pretty much be dismantled if this happened.
Can't see Apple letting them make Android phones or PCs or anything that runs a non-Apple OS, those would be phased out for the standard iPhone + iPad + Macbook/Mac.
I do see the fit as far as Apple wanting an in to more content though, but I'm not sure that's really worth an $18 billion dollar price point.
Then again, Apple's got cash to burn I suppose.