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Diana Shipping Inc. Reaffirms Offer to Acquire Genco Shipping & Trading
GlobeNewswire Inc.·
Diana Shipping increased its acquisition offer for Genco Shipping to $27.34 per share ($24.80 cash plus one Diana share valued at $2.54), representing a 53% premium to Genco's undisturbed share price. Despite the increased offer, the Genco Board has rejected Diana's proposal three times without meaningful engagement or counterproposal. Diana, as Genco's largest shareholder, urges the Board to engage in good faith negotiations.
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