Diana Shipping Inc. Launches Tender Offer to Acquire All Outstanding Shares of Genco Shipping & Trading for $23.50 Per Share in Cash
Diana Shipping Inc. has launched a tender offer to acquire all outstanding shares of Genco Shipping & Trading for $23.50 per share in cash, representing a 31% premium to Genco's undisturbed share price. The offer is fully financed and has no financing condition.
Diana Shipping Inc. has commenced a tender offer to purchase all outstanding shares of Genco Shipping & Trading Limited at $23.50 per share in cash. The offer is scheduled to expire on June 2, 2026. Diana's proposal was made after Genco's Board of Directors refused to engage on Diana's fully financed, all-cash proposals to acquire Genco. The offer represents a 31% premium to Genco's undisturbed closing price on November 21, 2025. Diana has obtained $1.433 billion in fully committed financing and has entered into a definitive agreement to sell 16 of Genco's vessels for $470.5 million in cash upon completion of the acquisition. Genco shareholders are urged to tender their shares.
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