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Gabe Newell would need to personally decide to selling Steam to them and he already said multiple times that he would never do that.
Also, the estimated value of Steam by 2020 is somewhere between 15 and 20 billion dollars according to most analysts. ( cant be more precise because again, not traded on the stock market).
So Microsoft would most likely need to cough up 20 billion + for it.
Even for Microsoft that would be a bit much. Also all irrelevant since Gabe never would sell Steam.
Of course, nobody can predict the future and a lot can change.
But for now and the immidiate future the answer is no.
Also, what would Microsoft want with Steam? Their whole focus right now is selling their Gamepass subscription on console and pc and getting more exclusive game studios added to it.
Buying Steam would not help with that, especially with the price they would need to pay.
Also, money can do a lot to help with such decisions.
Ideally when Gabe gives up the company would just pass down the family line with no significant changes.
The one company that would and could make a serious bid for Valve - Amazon. It would fit very neatly into their portfolio.
S.x.
As long as the company likes to be there small company selling off to anyone will basically kill that
Also, Valve did kind of buy out some studios
So at this point, I think they're not really much in risk to getting bought out by any company
Valve is not a "small company".
Yes, small change