Genco Shipping says Diana Shipping tender offer expires, continues talks on $24.8-per-share proposal
GNK•Indicative terms and ongoing discussions
Indicative terms: $24.80 per Genco share in cash, plus one Diana share for each Genco share not already owned.
Genco advisors continued talks with Diana on price, structure, and terms to assess whether a deal can fully compensate shareholders.
Genco raises valuation and dilution concerns
Genco challenged Diana’s implied stock value of $2.54 per share, citing recent trading near $2.25–$2.30.
Genco flagged risks from potential dilution and a proposed sale of 16 Genco vessels to Star Bulk at below-market prices.
Tender offer expires, board review continues
Diana Shipping’s tender offer for Genco Shipping & Trading expired, leaving a separate non-binding proposal under board review.
