CD Projekt Red Responds to Hostile Takeover Rumors
Earlier this week, developer CD Projekt Red — the team behind the Witcher series — announced a November 29th meeting during which shareholders will vote on measures that would help defend itself from a potential hostile takeover.
As the internet does: it ran away with this. Rumors began to appear everywhere of CD Projekt Red being in danger of a hostile takeover, with some even suggesting EA were behind the move.
Today, CD Projekt Red put an end to those silly rumors. According to a spokesperson of the company, the measure being taken is not in response to any recent event, but rather is simply a meeting taking place to vote on preventative measures, should the company ever actually face a hostile takeover.
The spokesperson said the following:
“As for the rumor, it emerged after the [board of directors] suggested introducing a voting cap during the upcoming shareholder meeting. However, the proposal is not a reaction to any current events affecting CD Projekt,” a spokesperson told GameSpot. “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.”
As you may know, this is not the first time speculation about a hostile takeover of CD Projekt Red has emerged. In September 2015, it was reported that the studio was in talks with EA about a buyout, something CD Projekt Red later denied. Earlier that year in June, when speaking to Develop, the developer said it is approached by companies about an acquisition on a “regular basis.”
Despite all of this speculation flying around it, CD Projekt Red has always been adamant that staying independent is paramount to it. Something I personally hope never, ever changes.