Genco Shipping & Trading Limited’s Board unanimously rejected Diana Shipping Inc.’s proposal to acquire outstanding shares for $20.60 per share in cash, deeming it undervalued with high execution risk. Genco believes in its superior value and strategy for shareholders. The proposed alternative transaction structure involves Genco acquiring Diana for shareholder benefit. Genco highlights their strong fleet, cash flow, and future potential. The Board sees the potential of a combined entity led by Genco’s management, offering financial benefits and liquidity to both Genco and Diana shareholders. The proposal aims to create value and enhance market presence.

Read more at GlobeNewswire: Genco Shipping & Trading Rejects Non-Binding Indicative