Common shares are usually issued to raise capital. There are many kinds of shares. Preferred shares are usually held by major investors, not available for sale on open market regularly, and often they hold control, so the company cannot be taken over by sales of common shares. I don't know if this is true for IPLY, but I'm certain its not as simple as "let's buy their shares".
A hositile takeover is one entity (corporation) taking over another, and we are not an entity like that. Okay, so buy some common shares and what power do you have? Ever owned any? You'll get a statement saying you are eligible for votes at a quarterly meeting. You don't decide WHAT is voted on.
Now take the example of source code for example, a corporation cannot choose to give away assets! It must maintain the interest of the shareholders. Now that may be you, but getting source code is not how you gain on investment.
It's also rediculous that anyone should think they could undo the bethesda licensing. Get real: it's already done. Even if there was a new owner he/they can't just tear up the contract because they don't like it.