Microsoft had purchased all of Rare's trademarks in 2023. (They let Banjo-Pilot's trademark die, sadly) So if Rare were to go independent or sold off it wouldn't have any IP and it won't even be able to own its iconic R logo (since Microsoft bought that too).
Facts About Banjo-KazooieAccording to Patrick Garrat from Edge Magazine's newsletter. Rare or a chunk of its staff (its unspecified) is on the chopping block in the upcoming mass layoff / studio shutdowns in the upcoming weeks.