CD Projekt RED Responds to Hostile Takeover Threat News
Fears started circulating last week that one of the most respected developers in gaming, CD Projekt RED was under the threat of a hostile takeover and were taking measures to protect themselves. News of a shareholders meeting popped up and on the menu was buying back a ton of their own shares to make sure they could retain control of their company. Add this to the fact that there were rumors last year of EA making a run at the company and things fell into place for everyone believing the story to be true.
Speculation ran rampant and website WCCFTech reached out to the developer for comment. CDPR responded saying;
As for the rumor, 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.
There you have it, folks, straight from the horse’s mouth! While the studio is taking precautions to get a handle on their ownership stakes it is truly just that, a precaution. Seeing as that’s the case they can continue working hard on both Gwent – The Witcher Card Game and the upcoming Cyberpunk 2077.Â