Nintendo isn't going to get bought by anybody.
But it seriously wouldn't hurt them to buy someone themselves. Companies like Vanillaware, Good_Feel, Monster Games, Platinum, and Next Level are good examples, though most of those are already at least working somewhat exclusively with Nintendo. It wouldn't hurt for them to consider buying a company that would be a bit more out of the norm, like Sega (great assets that Sega wastes) or Capcom (ditto). Both also still produce arcade games, an avenue, at least in Japan, that could generate revenue for Nintendo. Plus it wouldn't hurt at all to have those catalogs as Nintendo exclusives.
But who the hell knows. I'm not sure, when Iwata mentioned them being "open to M&A" , that he even meant video game companies. He might've meant more in the vein of Nintendo looking to branch out into other areas outside of gaming.







