Nintendo buys Capcom:
1 - Nintendo buys Capcom by X per stock
2 - Nintendo announces that Capcom software will be exclusive
3 - Stock falls hard until X/2 or X/3. Nintendo can't even sell Capcom anymore.
4 - Software sales fall because it is on less platforms.
5 - Income falls hard. Nintendo can't cut costs without mass layoffs but that would be impossible without expending fortunes to do everything according to working laws.
6 - Capcom sucks Nintendo money and selling it to other now would add mass losses.
Replace Nintendo with Sony or MS if you like. The only way that this wouldn't happen is if a neutral 3rd party buys it. People criticise Nintendo for not buying Atlus, but is a similar story than this one, it simply doesn't work the way people would like it. When you buy an IP, it's good, you can do games. When you buy a company, you get the IPs, the personal, their structure and a bunch of problems. You buy healthy business, not sick business. MS bought Rare because they were healthy and are way smaller than Capcom, it's more manageable. Nintendo buying Capcom would just push them to financial problems, exactly what would happen to MS or Sony. Just like THQ, nobody wanted a sick company that was losing money. When they went down, others just grabbed their IPs without worrying with ressurecting a dying company (not saying that Capcom is dying, they just need some restructuration efforts).
