ECM on 24 April 2014
M&As, in any business, are a tricky situation, fraught with peril and, in fact, the vast majority do *not* pay off in the end, when it comes to contributing to the company's bottom line.
(In which case, as others have noted, grabbing smaller studios to shore up weaknesses in Nintendo's catalog (primarily 'mature' titles) is really the only potentially smart option due to the costs involved with larger publishers (especially since those companies produce games for *many* other consoles, etc.), which is immediately lost value *for which you still have to pay*.)
