Diana Shipping Inc. has urged shareholders of Genco Shipping & Trading to tender their shares by July 10, 2026, at 5:00 p.m. New York time, under its offer of $27.34 per share, which includes $24.80 in cash plus one Diana share valued at $2.54. As of June 26, 28.4% of Genco's outstanding shares not owned by Diana have been tendered. Despite the increased offer, the Genco Board has not responded or engaged with Diana nearly three weeks after the proposal. Diana emphasizes the premium value of the offer, backed by $1.412 billion in financing, and encourages shareholders to push the Genco Board to negotiate a transaction that benefits all shareholders. If successful, Diana plans a second-step merger to acquire remaining shares at the same terms.
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