PxPixel
CD Projekt deny rumours of hostile takeover attempt - MCV

CD Projekt deny rumours of hostile takeover attempt

Claim recent measures proposed to stockholders are "meant as insurance against future hypothetical scenarios which may never materialise."
Author:
Publish date:
The Witcher 3-2.jpg

CD Projekt, the Polish developers behind The Witcher 3, have denied claims that they're defending against a hostile takeover attempt, after rumours surfaced in the wake of a call for a shareholders meeting.

CD Projekt are best known for their Witcher RPG series and also for its GOG.com digital distribution service and has found itself mired in takeover rumours after putting out an extraordinary call for a shareholders meeting — viewable here in Polish — this week to vote on three primary topics: a buyback of shares, a potential change on the company's operating statute that adds restrictions to the voting rights of all shareholders with a greater than 20 per cent share in the company and the merger of the CD Projekt Brands subsiary into the parent company.

The three items together were considered to be CD Projekt seeking to protect itself from a hostile takeover from an outside entity, although who the potential aggressors could have been is still unknown, however CD Projekt have insisted this isn't the case.

"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," the company claimed in an email to WFCCTech. "Rather, it is meant as insurance against future hypothetical scenarios which may never materialise. 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."

Related

The Witcher 3.jpg

Seeing Red: The rise of CD Projekt and The Witcher

The Witcher III: Wild Hunt developer CD Projekt Red took home four prizes from this year’s Develop Awards, including the coveted Studio of the Year title. Game director Konrad Tomaszkiewicz tells James Batchelor how the team has evolved with every game it releases