This Inquirer piece is rumouring that Google may be moving to buy Valve.
The story cites "well-placed sources" and was filed from Austin GDC.
If true, Steam is the main target, says the site.
Also, it would be contrary to comments from Gabe Newell at Games Convention last month. Snip from the interview:
So you’ve got no interest in selling Valve?
GN: Right now we’re super-happy. We’ve been an independent company from day one, and we think that that contributes to our good decision-making. We’re much more concerned about finding more people that are like us and want to work with us - and doing a great job for customers - than looking for people that want to buy the company.
Have you had any approaches for the company?
GN: I get approached a couple of times a week by people saying, ‘Can we invest in you, can we buy you?’ That’s been true for several years. We’re having too much fun.
Full thing through the link.