I don't see Sony spending the money on a publisher especially Square Enix because they already get the main games they want exclusive anyway so why buy them?
I see Sony acquiring good solid development studios that are already established or new and upcoming because they can get them cheap, invest into them in order to expand them and make them grow bigger over time. It's basically low risk, high reward situations.
I still believe that they acquire Ember Lab and Deviation Games at some point. And since I forgot about them until recently, you could probably throw in Arrowhead Studios as well.
If Square Enix wouldn’t want to be bought, then had not sold Eidos/Crystal and Montreal Studio + 50 IPs for cheap $300M. Gearbox is a much smaller asset in comparison to this three studios. Gearbox has 1000 employees and much lesser value IPs and sold for $1.3B lol.
There is too much smoke already. Square Enix didn’t talk about the future of the company in their investor calls. You know why, because they are getting acquired. I think it’s more your wishing for Sony not to do so.