Diana Shipping Inc. criticized Genco Shipping & Trading's board for rejecting its $24.80 per share all-cash tender offer for the third time without meaningful engagement. Diana argues Genco's board has abandoned independent broker valuations it previously relied on for five years in favor of higher sell-side analyst estimates to justify rejections. Diana is calling on shareholders to elect six independent directors at the June 18 annual meeting and urges them to tender shares by June 26, 2026.

Diana Shipping has announced a revised unsolicited tender offer to acquire Genco Shipping & Trading at $24.80 per share in cash, up from previous proposals at $20.60 and $23.50 per share. Genco's Board will review the offer and provide formal recommendations to shareholders via SEC filing. The Board previously rejected Diana's prior proposals and currently recommends shareholders vote for Genco's nominees and against Diana's nominees.

Diana Shipping Inc. has increased its all-cash acquisition offer for Genco Shipping & Trading Limited to $24.80 per share from $23.50, representing a 39% premium to Genco's undisturbed closing price and pricing at approximately 1.0x Genco's net asset value at cyclically high asset values. The tender offer deadline has been extended to June 26, 2026. Diana has also nominated six independent director candidates and urges Genco shareholders to vote for them and tender their shares, while continuing to push for board engagement on a definitive merger agreement.

Diana Shipping, which owns 14.4% of Genco Shipping, is pushing for board changes after the Genco Board refused to engage with its $23.50 per share acquisition offer over five months. Diana has nominated six independent director candidates and launched a tender offer, arguing the offer represents a 31% premium to undisturbed share price and 1.0x NAV, while warning that without the deal, Genco shares could decline to $17.50 as peers trade at 25% discount to NAV.

Genco Shipping & Trading Limited has filed definitive proxy materials for its 2026 Annual Meeting of Shareholders, urging investors to vote FOR the reelection of its current Board of Directors on the WHITE proxy card. The company is defending against what it characterizes as Diana's attempt to take control at a discount to asset value and below current trading price, without paying a control premium. Genco declared a Q1 2026 dividend of $0.35 per share, representing a 133% year-over-year increase.

Diana Shipping Inc. has launched a tender offer to acquire all outstanding shares of Genco Shipping & Trading Limited at $23.50 per share in cash, representing a 31% premium to Genco's undisturbed share price. The offer comes after the Genco Board rejected Diana's proposals over five months without engagement. Diana has secured $1.433 billion in fully committed financing and has nominated six independent director candidates for Genco's board. The tender offer expires on June 2, 2026.

Diana Shipping Inc., which owns 14.8% of Genco Shipping & Trading Limited, has criticized Genco's Board for filing a preliminary proxy statement without announcing an Annual Meeting date or setting a record date. Diana alleges the Board is using procedural tactics to entrench itself and prevent shareholders from voting on Diana's $23.50 per share all-cash acquisition proposal and board nominees. Diana accuses Genco of a misinformation campaign and refusing engagement for five months.

Diana Shipping, which owns 14.8% of Genco Shipping & Trading, has criticized Genco's board for rejecting its $23.50 per share all-cash acquisition offer made in partnership with Star Bulk Carriers. Diana claims the offer is fully financed with $1.433 billion in committed financing and represents a premium valuation. Frustrated by the board's rejection without engagement, Diana announced plans to pursue a proxy fight to elect independent directors who will explore all value-maximizing opportunities.

Genco Shipping & Trading Limited's Board of Directors will review a revised non-binding indicative proposal from Diana to acquire all outstanding shares not already owned by Diana for $23.50 per share in cash. This represents an increase from Diana's previous proposal of $20.60 per share in January 2026, which the Board had unanimously rejected as significantly undervaluing the company. No shareholder action is required at this time.

Diana Shipping increased its all-cash acquisition offer for Genco Shipping to $23.50 per share, a 31% premium over the initial offer of $20.60, which was previously rejected. The deal includes Star Bulk Carriers acquiring 16 Genco vessels for $470.5 million. All three companies' shares declined on the news.

Star Bulk Carriers Corp. announced it has entered into a conditional agreement to acquire 16 vessels from Diana Shipping Inc. for $470.5 million, contingent upon Diana's successful acquisition of Genco Shipping & Trading Ltd. The transaction will increase Star Bulk's fleet to 157 ships with 15.9 million dwt capacity and is expected to generate immediate incremental revenue and cash flow to support dividend growth and deleveraging.

Diana Shipping has increased its all-cash offer to acquire Genco Shipping & Trading to $23.50 per share (31% premium over pre-announcement price), backed by $1.433 billion in fully committed financing from major banks. Star Bulk has agreed to purchase 16 Genco vessels for $470.5 million upon deal completion. Diana, which owns 14.8% of Genco, is calling on the Genco Board to engage in good faith negotiations and has nominated director candidates for Genco's upcoming Annual Meeting.