Genco says advisers engage with Diana on revised bid offering USD 24.8 per share plus stock
GNK•Key issues under discussion
Genco said the key issues include whether the offer reflects Genco NAV with a control premium, the value risks in Diana stock and the expected dilution from new issuance.
The cash portion of the offer would be reduced by dividends declared, including Genco’s Q2 2026 dividend expected to be announced in early August.
The board reiterated that it will issue a formal response in due course. It also criticized Diana’s separate USD 24.80 tender offer.
Board review continues on revised Diana proposal
Genco says its advisers have engaged with Diana Shipping on Diana’s revised proposal to buy the remaining Genco shares for USD 24.80 in cash plus one Diana share.
The board review continued on the revised proposal, and advisers held multiple recent discussions on price, terms and structure, aiming to reach consideration viewed as fully compensating Genco shareholders.
