Diana Shipping ends tender offer for Genco, keeps USD 27.34-a-share bid on table
DSX•Diana's bid for Genco remains outstanding
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.
Tender results and Diana's criticism of Genco's board
About 11,778,419 Genco shares were tendered and not withdrawn, equal to 31.6% of the shares not already owned by Diana.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.
