AcquisitionsJun 17, 2026, 07:35 AM
Diana Shipping raises Genco acquisition offer to $27.34 per share
AI Summary
Diana Shipping Inc. has increased its offer to acquire all outstanding shares of Genco Shipping & Trading Limited not already owned by Diana to a total implied value of $27.34 per share. The revised offer comprises $24.80 per share in cash plus one Diana share, valued at $2.54. This represents a 53% premium to Genco's undisturbed share price and a 6% premium to its Net Asset Value. Diana has formally requested that Genco delay its Annual Meeting to allow its Board and shareholders time to properly evaluate the increased offer.
Key Highlights
- Diana Shipping increased its offer to acquire Genco to an implied value of $27.34 per share.
- The revised offer includes $24.80 per share in cash plus one Diana share valued at $2.54.
- The offer represents a 53% premium to Genco's closing share price on November 21, 2025.
- It also represents a 6% premium to Genco's Net Asset Value (NAV) per share.
- The offer is a 16% premium to Genco's closing share price of $23.51 on June 16, 2026.
- The $1.433 billion cash component is fully financed with no financing condition.
- Diana requested Genco delay its Annual Meeting scheduled for June 18, 2026.
- CEO Semiramis Paliou and other executives intend to maintain their ownership percentages in Diana.
Price Impact
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