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Genco Shipping & Trading Limited Shares Video Highlighting Diana Shipping's Attempt to Acquire Genco on the Cheap

Benzinga·
Genco Shipping & Trading Limited Shares Video Highlighting Diana Shipping's Attempt to Acquire Genco on the Cheap

Genco Shipping released a video and statement opposing Diana Shipping's $24.80 per share tender offer, arguing it undervalues the company and lacks an appropriate control premium. Genco's Board maintains the offer is below third-party NAV estimates of $26.66-$27.10 and encourages shareholders to vote for the company's nominees on the WHITE proxy card while rejecting Diana's inadequate bid.

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