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Diana Shipping Extends Financing for Genco Buyout Proposal

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Diana Shipping (DSX) said Tuesday it has extended the fully committed financing supporting its offer to acquire the remaining outstanding shares of Genco Shipping & Trading (GNK).

The $1.41 billion financing package includes an unchanged $1.10 billion tranche and a second tranche adjusted to $310 million from $331 million after Genco Shipping sold two vessels, the company said.

The company maintained its bid of $27.34 per share, consisting of $24.80 in cash and one Diana Shipping share, it added.

Price: $2.04, Change: $+0.03, Percent Change: +1.49%

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