"Nintendo takes up its option to buy Rare at the offered price instead of Microsoft. However, this seems very unlikely as it could have bought Rare years ago for a lower price but declined. Moreover, we were informed that a full buy-out of Rare will take place, meaning that all of its shares are to be sold to Microsoft."
According to other articles like this, Nintendo owns 49% of Rare. Now, I dont know what others have to say, but it seems Nintendo would have to sell most of that stock by choice if they were not getting any games.
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