If this were true, I would mourn the death of the last great developer. The entire reason valve can produce such polished games is because they are owned by Gabe Newall, not some shareprice oriented conglomerate of business goons (see: activision). As they only answer to Newall, they can spend as long as nessacary on a game, without having to produce results to keep sharholders happy. And all you salivating over Valve/Betesda collaboration, it's Zenimax, not Bethesda who are suggested as buying Valve, and there will be just as much creative crossover between Halflife and Fallout as there is between Quake and Fallout.
Of course, this is all bullshit and rumor mongering of the highest Order. Valve and Newall have money leaking out of every orifice, and have should have neither the want nor the need to sell out. But hell , you gotta love the internet and the random speculation caused by unsubstanciated claims made by any Joe Soap.