Diana Shipping Inc. reaffirmed its commitment to acquire Genco Shipping & Trading Limited, urging the Genco board to engage in good faith regarding its revised offer of $27.34 per share. The offer, increased on June 17, 2026, consists of $24.80 in cash and one Diana share valued at $2.54 based on Diana's 30-day volume-weighted average price. Diana stated the revised offer represents a 53% premium to Genco's undisturbed share price and a 6% premium to Genco's net asset value per share. CEO Semiramis Paliou noted the Genco board has rejected the offer three times without meaningful engagement and called on shareholders to hold the board accountable. Diana is Genco's largest shareholder and has been pursuing the acquisition for more than six months.
Diana Shipping Inc.Diana reaffirmed and raised its acquisition offer for Genco, a capital/M&A event that would expand Diana's fleet.
Genco Shipping & Trading LtdDiana Shipping reaffirms $27.34 per share offer, a 53% premium to Genco's undisturbed price, urging Genco board to engage.