Diana Shipping pushes Genco takeover offer deadline

• Diana Shipping (NYSE:DSX) urged Genco Shipping & Trading (NYSE:GNK) investors to tender shares under its acquisition proposal.
• The offer values each Genco share at $27.34, including $24.80 in cash and one Diana share valued at $2.54.
• Diana said 10.58 million Genco shares had already been tendered as of June 26, 2026.

Diana Shipping (NYSE:DSX), the largest shareholder of Genco Shipping & Trading (NYSE:GNK), urged Genco investors to tender shares by July 10, 2026, at 5:00 p.m. Eastern Time under its acquisition proposal.

The offer values each Genco share at $27.34, consisting of $24.80 in cash and one Diana share valued at $2.54, according to Diana.

Diana said the proposal is supported by $1.412 billion in committed financing and represents a 53% premium to Genco’s undisturbed share price before the offer was announced.

As of June 26, 2026, investors had tendered 10,583,484 Genco shares, representing 28.4% of shares not already owned by Diana.

Diana Shipping said the tender offer remains open until the July 10 deadline and is seeking additional shareholder participation.

The companies operate in the dry bulk shipping sector, transporting commodities including iron ore, coal, grain, and other materials globally.