CD Projekt RED deny takeover attempt, are defending against "hypothetical scenarios" | PCGamesN

CD Projekt RED deny takeover attempt, are defending against "hypothetical scenarios"

"I hear Tamriel's Dark Brotherhood are trying to buy out that castle."

CD Projekt RED have commented on recent rumours about a hostile takeover attempt, denying that such an attempt is happening, and explaining the behaviour which gave rise to the rumours.

CDPR's latest game, The Witcher 3, is one of our best RPGs on PC. What else makes the list?

A few days ago, a rumour started on NeoGAF that Witcher 3 developers CD Projekt RED were preparing to defend against a hostile takeover. User boskee, who translated from Polish the agenda of a shareholders’ meeting on November 29, suggested a proposed cap on certain shareholders’ voting rights indicated the board was looking to protect all shareholders against a sudden buyout. Another proposal, to allow the company to buy back some of its own shares, “would also make a lot of sense in that situation”, speculates boskee.

You can check out the thread here.

WCCFTech reached out to CD Projekt RED for comment on the rumour, and the company obliged with the following statement:

“As for the rumour, it emerged after the Board suggested introducing a voting cap during the upcoming shareholder meeting. However, the proposal is not a reaction to any current events affecting CD PROJEKT. Rather, it is meant as insurance against future hypothetical scenarios which may never materialize.

"We wish to safeguard the interests of minority shareholders in a hypothetical case where a major shareholder emerges professing a business and strategic vision which conflicts with ours."

So this is a general, rather than a specific, precaution against possible future takeover attempts. It's prudent: CD Projekt's success and esteem among gamers must make it a tempting target, and this isn't the first rumoured takeover attempt by a big publisher.

If these measures are approved at the meeting, hopefully fans can rest easier knowing that CD Projekt will be better equpped to defend its independence.

Sign in to Commentlogin to comment