AcquisitionsJun 29, 2026, 06:32 AM
Diana Shipping Extends Genco Tender Offer to July 10; 28.4% Shares Tendered
AI Summary
Diana Shipping Inc. announced the extension of its tender offer to acquire all outstanding shares of Genco Shipping & Trading Limited not already owned by Diana, moving the deadline to July 10, 2026. As of June 26, 2026, 10.6 million shares, representing 28.4% of Genco's outstanding shares not held by Diana, have been tendered. The offer of $27.34 per share, consisting of $24.80 in cash and one Diana share, remains on the table, which Diana states represents a significant premium and has strong shareholder support.
Key Highlights
- Diana Shipping extended its tender offer for Genco shares to July 10, 2026.
- 10.6 million Genco shares, or 28.4% of outstanding shares not owned by Diana, tendered.
- Offer price remains $27.34 per share, comprising $24.80 cash and one Diana share.
- The offer represents a 53% premium to Genco's undisturbed share price.
- The offer represents a 6% premium to Genco's net asset value per share.
- Diana has $1.433 billion in committed financing for the acquisition.
Price Impact
More from DSX