Buyout Rumor? CD Projekt Red Says, It Ain’t Happening
The gist of it is clear: It ain’t true.
This pertains to rumors that CD Projekt Red is facing a threat of a buyout from an outside company. Announced earlier this week, “The Witcher” developer would be having a meeting this coming 29th of November preventive measures to counter a hostile takeover bid.
A representative from CD Projekt Red had claimed that the buyout rumor started to take flight when the Board of Directors suggested that a voting cap be put in place on the upcoming shareholder meeting. But the rep had stressed that the proposal had not been due to any circumstances impacting CD Projekt Red. It was reported that it should only be seen as an “insurance” against future, speculative scenarios. This serves the interest of the minority shareholders in the event that a major shareholder proposes a business strategy that would clash against CD Projekt Red.
CD Projekt Red is no stranger to such ill-founded issues. Just in 2015, news from the grapevine had put them in an awkward position with Electronic Arts (EA). And the response was the same; it wasn’t true. The rumor surrounding it sprang from another media entity that had claimed that a CD Projekt Red employee informed of a potential EA takeover.
To date, reports of a hostile takeover on Ubisoft are being flung around, prompting entities like CD Projekt Red to come up with prudent measures.
Right now, CD Projekt Red is engrossed with current efforts such as Gwent: The Witcher Card Game and Cyberpunk 2077.
