Diana Shipping withdraws bid to buy Genco after board seeks about USD 36.91 per share

Reuters2026/08/14 20:38

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Diana Shipping withdrew its offer to buy the Genco shares it does not already own.
Latest proposal offered USD 24.8 cash per Genco share, adjusted for a USD 0.8 dividend, plus one Diana share valued at USD 2.54.
Genco’s board countered with USD 27.5 cash, USD 2 in projected dividends, and three Diana shares, implying about USD 36.91 per share.
The counterproposal implied a 42% premium to Genco’s Aug. 13 close, based on Diana’s USD 2.47 closing price.
Three Diana shares per Genco share would leave Genco investors owning about 47% of the combined company.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Diana Shipping Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608141638PRIMZONEFULLFEED9810658) on August 14, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Diana Shipping withdraws bid to buy Genco after board seeks about USD 36.91 per share

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