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Genco Shipping & Trading Limited Responds to Diana Shipping Extending its Inadequate $24.80 Unsolicited Tender Offer
GlobeNewswire Inc.·
Genco's Board rejected Diana Shipping's extended $24.80 per share cash tender offer, calling it inadequate and below the company's net asset value with no control premium. Genco shareholders overwhelmingly re-elected all board directors and the company projects a Q2 2026 dividend of $0.70 per share (367% year-over-year increase) based on current freight rates. The Board is reviewing Diana's non-binding June 17 proposal but will not amend its recommendation until Diana files an amended tender offer at a higher price.
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