Eli5 Couldnt Microsoft just buy all shares of Nintendo?

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There is this story how Microsoft wanted/wants to buy Nintendo but was laughed out of the room. Is nintendo not a stock company? Couldnt Microsoft just buy 51% of all the shares? From what Ive seen the biggest shareholder is a japanese bank with 17%. Its not like somebody already owns the half.

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Is Nintendo in financial trouble? Why are they in the target of acquisition?

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