Afaik it's only cdprojekt red, the developer. Cdprojekt is the parent company and owner of gog, and they are considering consolidating them together to make buying out one harder.
This would actually make it easier to buy them. GOG is incorporated in Cyprus, which means that Cyprus law applies about their acquisition before Polish law does. While GOG is wholly owned, it's also still legally a separate company, and together, these provide at least some level of protection for them even though the value of their assets all appear on CDPR's balance sheet somewhere.
If CDPR consolidates GOG under their holding company, then many of those additional legal protections go away.
Consolidation of wholly owned subsidiaries don't make the parent company any bigger, they already own it on their balance sheet as an asset.
The share buyback, on the other hand, is a good move to (among other things) fight off a takeover, because it reduces the availability of shares to sell while also substantially improving the value of remaining shareholders' pieces, which makes them very happy and less likely to sell.[DOUBLEPOST=1478372928,1478372667][/DOUBLEPOST]
Of course, it should be noted that if the board
wants to sell their stake to a larger company, a share buy back is also a good way to give them the controlling stake they need to do it.
