Diana Shipping ends tender offer for Genco, keeps USD 27.34-a-share bid on table

Reuters2026/07/27 11:04

By:Reuters

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Diana Shipping is seeking to buy the remaining Genco Shipping shares it does not own for USD 27.34 a share.
Consideration includes USD 24.8 in cash plus one Diana share valued at USD 2.54 using a 30-day VWAP as of June 16, 2026.
The offer remains outstanding, despite Diana ending its tender offer that expired July 24 at 5 p.m. New York time.
About 11,778,419 Genco shares were tendered and not withdrawn, equal to 31.6% of the shares not already owned by Diana.
Diana criticized Genco’s board for limited engagement since June 17 and called for direct negotiations on the proposal.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Diana Shipping Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607270700PRIMZONEFULLFEED9798434) on July 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Diana Shipping ends tender offer for Genco, keeps USD 27.34-a-share bid on table

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