What they don't have is financial constructions that would leave them in nominal control when they go down that path. And they absolutely do want to stay in control, or else they would have sold a long time ago.
Even if that control is only nominal, of it comes at the price of anticipating every wish institutional investors might have and obediently following them to the (unwritten) letter.
They can indeed do with their toys whatever they want. They just don't want to put up with the bother of other investors trying to get rid of them, or the orange guy not sending them a Christmas card, or having a little less than infinite money.