Genco Shipping urges shareholders to reject Diana Shipping’s USD 24.8-per-share tender offer extension - GNK News | RalliesGenco Shipping urges shareholders to reject Diana Shipping’s USD 24.8-per-share tender offer extension
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GNK• Genco rejects Diana Shipping’s extended tender offer
- Diana Shipping extended its cash tender offer to buy the remaining Genco Shipping shares for USD 24.8 per share.
- Genco’s board has rejected the offer, citing undervaluation versus net asset value and a lack of a control premium.
- The offer documents still do not reflect terms in a separate indicative, non-binding proposal Diana made to Genco’s board.
- Genco’s board continues to review Diana’s separate indicative proposal.
