CD Projekt RED Updates: Company Moves Forward With Shareholder Meeting, So Hostile Takeover Threat Not Real?

The Polish video game company CD Projekt RED has recently announced that the hostile takeover threat is just a rumor. Their game development business is safe and the company is moving forward with its shareholder's meeting.

The rumor started spreading around the Internet a few days ago and a document was leaked stating that CD Projekt RED called for a gathering of shareholders that is scheduled on November 29. Different items are going to be on their agenda and it will ultimately impact the company's future.

The shareholders will be asked to vote to change the company's statute, vote on a decision to merge CD Projekt RED Brands which are subsidiaries that hold the trademarks for the "Cyberpunk" and "Witcher" games and to allow or block the company to buy back some of its shares for $64 million.

The vote on buying back the shares would end up putting restrictions on the ability of shareholders to vote who only own 20 percent of CD Projekt RED. This can be lifted if the said shareholders will buy all the remaining shares that will exceed 50 percent.

These points that will be discussed during the meeting are the main reasons why rumors of a hostile takeover began spreading online. If a takeover actually happens, popular RPGs that were developed by CD Projekt RED like "Cyberpunk 2077," "The Witcher 3," and "GWENT" would also be affected.

Another piece of news that added to the fire of the CD Projekt RED takeover rumor was the departure of Damien Monnier, who was the senior gameplay designer of "The Witcher 3" game. The CD Projekt RED RPG is considered as one of the best games ever made for any console and fans were surprised that the two expansions of the game made it even more playable.

CD Projekt RED said that the separation is amicable but Monnier didn't gave a clear explanation why he left. Monnier said that "Witcher 3" was a very exciting project and CD Projekt RED itself was a great environment to work in. Monnier was also part of the team that developed the mini-game in the "Wild Hunt" and was a contributor for the standalone "GWENT" game.