AcquisitionsJun 30, 2026, 05:27 PM
Diana Shipping Extends $1.412B Financing for Genco Acquisition Offer
AI Summary
Diana Shipping Inc. announced an extension of its fully committed financing, totaling $1.412 billion, to support its tender offer for Genco Shipping & Trading Limited. The financing, arranged by DNB Carnegie and Nordea with participation from several international banks, is now extended to September 30, 2026. Diana's revised offer of $27.34 per share, consisting of $24.80 in cash and one Diana share, remains on the table, representing a 53% premium to Genco's undisturbed share price.
Key Highlights
- Financing for Genco acquisition offer extended to September 30, 2026.
- Total committed financing for the acquisition is $1.412 billion.
- Financing arranged by DNB Carnegie, Nordea, BNP Paribas, Standard Chartered, Deutsche Bank, and Danske Bank.
- Diana's revised offer for Genco shares is $27.34 per share.
- Offer comprises $24.80 in cash and one Diana share (valued at $2.54).
- The offer represents a 53% premium to Genco's undisturbed share price.
- Diana Shipping Inc. beneficially owns 14.4% of Genco's common stock.
Price Impact
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