"But it's turned out that all those scary stories - which, you know, maybe some of them were true, and maybe some of them are history; I don't know - haven't appeared to us; we haven't seen the boogeyman."
That's probably because of the clout Valve brings to the table. Valve has already established themselves financially independent of publishers (except for replication and distribution).
And also being privately held, right? I mean, we don't have to report to the Street; we're not beholden to the Street. We don't have to have a release this quarter, or this Christmas, or by the end of the financial year.
And that success from Half-Life, and Half-Life 2, has allowed us to be very independent from publishers.
That doesn't sound like a developer that wants to be "acquired." From the article, they mention they wanted a publisher deal to handle replication and distribution, which is what they got from EA. They don't need to take that relationship any further.