FINWIRES · TerminalLIVE
FINWIRES

Genco to Review Diana Shipping's $23.50-a-Share Tender Offer

By

Genco Shipping & Trading (GNK) said Monday that Diana Shipping (DSX) launched a conditional, unsolicited tender offer to acquire the remaining Genco shares for $23.50 per share in cash, and that its board is reviewing the bid.

The offer price matches Diana's March 6 proposal, which Genco's board unanimously rejected as inadequate and below the company's net asset value, the company said.

Genco shares fell 2.2% in Monday trading, and Diana rose 0.6%.

Price: $23.99, Change: $-0.55, Percent Change: -2.22%

Related Articles

Wire

PAMT Posts Breakeven Q1 Results as Revenue Declines

PAMT (PAMT) reported breakeven results in Q1, compared with the loss of $0.37 per diluted share a year earlier.Operating revenue in the three months ended March 31 fell to $141.9 million from $155.3 million, the company said Friday in a statement.PAMT plans to more actively implement share repurchases in Q2 under its stock buyback authorization.Price: $10.00, Change: $-0.10, Percent Change: -0.99%

$PAMT
Wire

Adamas Trust Shares Fall After B. Riley Downgrade

Adamas Trust (ADAM) shares fell nearly 1% in Friday afternoon trading after B. Riley downgraded the stock to neutral from buy, with a price target of $9 per share.Trading volume stood at about 962,000 shares, compared with a daily average of almost 729,000.Price: $8.90, Change: $-0.09, Percent Change: -0.95%

$ADAM
Wire

Paramount Skydance Shares Rise After Morgan Stanley Upgrade

Paramount Skydance (PSKY) shares rose 8.7% in late Friday trading after Morgan Stanley upgraded the stock to overweight from underweight and raised its price target to $14 from $11.Trading volume stood at nearly 9.2 million shares, compared with a daily average of about 13.1 million.Price: $11.12, Change: $+0.88, Percent Change: +8.61%

$PSKY