Buying something that is voluntarily sold at fair market value is not confiscating it.

1. Government has money. This money is collected through tax revenue, resource royalties, etc.

2. Shareholders of company voluntarily put sell orders on a stock exchange.

3. Government places buy orders on a stock exchange.

4. Repeat #2 and #3 enough times, and the government becomes a majority shareholder.

No part of this involves confiscation, any more then Berkshire-Hathaway buying, and taking a public company private is 'confiscating' it.

That breaks already at step 1. Government does not have the money; instead it passes a new law to pass control of companies to governing party's proxies (in this case, LO) and expropriate the wealth from shareholders.