Last week it was rumored that The Witcher 3 developer, CD Projekt Red, was preparing to fight a hostile takeover. The rumor was based off of an outline for an extraordinary meeting of shareholders. This week, the developers have clarified what that meeting was all about.
According to the developers, in a statement obtained by WCCF, the meeting was not called to fight off a hostile takeover, but to protect the developers from one if it should happen.
"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."
It makes sense that CD Projekt Red would make that move, currently Ubisoft is fighting off Vivendi's takeover and a Chinese chicken meat company is buying up game developers like nobody's business. Luckily, this means that CD Projekt Red is looking towards protecting themselves and their IPs.
