Sony could have bought Kadokawa. But at $7-$10Bn it would have been risky and painful. A lot of Kadokawa isn't hugely profitable. That is why Sony wanted to cherrypick but KK didn't want to be left with an unworkable rump. Spending up to $10Bn would have meant Sony spending huge sums on assets it would either sell off or, most likely, close down. KK was too rich for Sony to buy.
Sony could have bought Kadokawa.
But at $7-$10Bn it would have been risky and painful. A lot of Kadokawa isn't hugely profitable. That is why Sony wanted to cherrypick but KK didn't want to be left with an unworkable rump.
Spending up to $10Bn would have meant Sony spending huge sums on assets it would either sell off or, most likely, close down.
KK was too rich for Sony to buy.