I don't know how you can buy a company without buying its stock from the shareholders, given that they are the owners of the company, but there must be some special circumstance that's not mentioned in the article.
"Business liquidation involves selling off a company’s assets, such as equipment, inventory, and real estate, and using the proceeds to pay off debts and obligations. This process usually occurs when a business is no longer profitable, facing insurmountable financial challenges, or the owner decides to retire or pursue other opportunities."
> “A source that has seen materials related to sales has confirmed that, as of August 2025, Microsoft has around eight million active licensed users of Microsoft 365 Copilot, amounting to a 1.81% conversion rate across the 440 million Microsoft 365 subscribers.”
Microsoft 365 Copilot's commercial failure - https://news.ycombinator.com/item?id=45476045 - October 2025