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While I can't see any of these companies being bought out by the other, as a PC and console gamer, a Nintendo/Sony console would probably be the most desirable for me, due to their intellectual properties.

Even if Microsoft had the financial power to buy Nintendo, I just can't see Nintendo selling itself to a Western company (or any company, for that matter), especially when you consider how old the company is and how much it likes to go in its own direction.