They can though. Obviously they will try to buy their IPs first before buying the whole publisher.

Yes, maybe the Mega Man franchise or Monster Hunter exclusivity.

Indeed they did. They also missed the boat when they had the opportunity to buy out Retro.  Look at all those great franchises Micrososft pretty much made irrelivant as they benched them to collect dust lol.

They should first go for Capcom, or some small studios, like Next Level Games.

Buying Capcom, would give them control over another of the Videogame Series titans in Japan, since they would hold Monster Hunter in their grasps. A revival of Mega-Man could also occur under their hand, and bring back old players and should get some good sales. Though only getting the IPs, could also be a good idea, though seeing how they are short in employees for development, it would be better to buy the company as a whole.

Next Level Games, even thouh a small studio have proven its worth, and seeing how they have stated that they will only work with Nintendo from now on, thanks to how Nintendo treats them, making them permanently part of the Nintendo family would be a good idea, specially since they have work in some sports games, so they can bring Nintendo some good Sports game.

Unless they can make Sonic good again, Nintendo shouldn't touch SEGA, simply negotiate with them, and buy Atlus from them.

Level 5 should also been bought, even if it simply is, to make sure that Yokai Watch, which seems to be the new big series in Japan, doesn't expand to other consoles, unless they can work something and only get the IP.

Nope.  11.6b as of May 2013:

http://www.forbes.com/companies/nintendo/

Ninty's posted losses since then, but not that much.  

Rare and all their assets from Microsoft

It would be awesome if Nintendo bought up more of my favorite companies. Then I could constantly beg for every single game to be localized.

They lost all their talent though.

Considering this thread is all about throwing our inner baseless, hopeful wishes out there, I might as well add to it. In that case, my wish would be that they buy Square Enix. That way Kingdom Hearts will be all mine... hehehe.

These companies need to be put for sale, before they can be bought, and its rare that a company would sell any assets including shares of itself at its market value since they want to make money of course. Furthemore, the company will need to have shares public enough that the company buying them could have a controlling stake in them, its not as simple as spending a cash reserve :|