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Genco Shipping & Trading to Review Revised Takeover Proposal From Diana Shipping

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Genco Shipping & Trading (GNK) said Wednesday it received and will review Diana Shipping's (DSX) revised unsolicited, non-binding proposal to acquire the company.

The company said its board will review the proposal with its financial and legal advisers and continue taking actions that are in the best interests of shareholders.

Genco said Diana's two remaining board nominees have ties to Diana's agenda and are not fit to serve on the company's board.

The company said it will proceed with its June 18 annual meeting as scheduled.

Price: $23.68, Change: $+0.17, Percent Change: +0.72%

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