Diana Shipping

Diana Shipping withdrew its offer for Genco after the Genco board made demands Diana called unrealistic. Diana had offered $24.80 cash per share (adjusted for a $0.80 dividend) plus one Diana share, with the Diana share valued at $2.54. Genco demanded $27.50 cash, a $2.00 dividend for Q3/Q4 2026 and three Diana shares per Genco share, equal to a total value of about $36.91 per share. Diana remains Genco's largest shareholder and said it will monitor Genco’s performance and hold its board accountable. » Mere på de.investing.com

Diana Shipping and Star Bulk have mutually terminated the agreement on the acquisition of 16 Genco vessels; Star Bulk withdrew due to the Genco board’s lack of willingness to negotiate. Diana’s takeover offer for Genco remains in place and consists of $24.80 per share (adjusted for the $0.80 dividend) plus one Diana share valued at $2.54. Diana said the termination has no impact on the committed debt financing of $1.411 billion, provided by six international banks. » Mere på de.investing.com

Diana Shipping, Genco's largest shareholder, disputes Genco’s assertion of rising ship values and cites VesselsValue data showing Genco’s fleet value fell from $1,483m to $1,433m (‑3.4%) since early June 2026. The company criticizes Genco for switching from VesselsValue to sell‑side analyst estimates after the takeover offer was launched, which increase net asset value by about $2 per share. Diana stands by its takeover offer of $27.34 per share and urges Genco’s board to enter direct negotiations. » Mere på de.investing.com