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

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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Genco Shipping & Trading Urges Shareholders to Reject Diana Shipping's Takeover Proposal

Genco Shipping & Trading (GNK) said Friday it urged shareholders to reject Diana Shipping's (DSX) attempt to acquire the company on the cheap with an inadequately priced tender offer at $24.80 per share and a proxy fight to replace the Genco board with its nominees.Genco said Diana's offer is at a discount to its liquidation value, but the board is open to meeting again if Diana submits a revised proposal reflecting the company's value.The company also urged stockholders to vote "withhold" on Diana's nominees, according to a statement.Diana Shipping did not immediately respond to a request for a comment from.Price: $24.91, Change: $+0.82, Percent Change: +3.40%

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Diana Shipping Says Fully Committed to Its Genco Offer, Urges Shareholders to Vote For Its Director Nominees

Diana Shipping (DSX) said Tuesday it is fully committed to its offer for Genco Shipping & Trading (GNK) and urged Genco shareholders to elect its six independent director nominees at the June 18 annual meeting.Genco board has rejected its offers for the third time without any engagement, Diana Shipping said.Diana Shipping also urged Genco shareholders to tender their shares pursuant to its tender offer at $24.80 per share in cash, according to a statement.Price: $2.40, Change: $-0.04, Percent Change: -1.84%

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Diana Shipping Boosts Offer to Acquire Genco to $24.80 per Share

Diana Shipping (DSX) said Wednesday it has increased its offer to acquire all the shares of Genco Shipping & Trading (GNK) that it does not already own to $24.80 a share in cash from $23.50.Diana said it has also extended the expiration for the tender offer to 5 pm New York City time on June 26.The company said the increased offer is fully financed, with $1.43 billion in financing arranged by DNB Carnegie and Nordea, with participation from other banks.Diana also said it has nominated six candidates to Genco's board.Genco didn't immediately respond to a request for comment by.Price: $2.80, Change: $+0.08, Percent Change: +2.95%

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Genco Shipping Again Urges Shareholders to Reject Diana Shipping's Tender Offer

Genco Shipping & Trading (GNK) again urged shareholders to reject Diana Shipping's (DSX) $23.50-a-share tender offer.Genco said Monday in a statement that "Diana's low-ball offer continues to undervalue" its assets and business."The board unanimously rejected Diana's tender offer after receiving opinions from both Jefferies and Morgan Stanley, each confirming that the offer was inadequate," Genco said.Genco urged shareholders to vote in favor of the company's six director nominees and against Diana's shareholder proposals at the upcoming annual meeting.Earlier Monday, Diana said Genco shares may fall significantly if its offer is withdrawn, arguing that the stock is currently supported by takeover expectations.Genco shares rose 0.9% in Monday trading, and Diana gained 0.6%.Price: $24.50, Change: $+0.22, Percent Change: +0.91%

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

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%

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Genco to Review Diana Shipping's Offer to Acquire All Outstanding Shares

Genco to Review Diana Shipping's Offer to Acquire All Outstanding Shares

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Diana Shipping Accuses Genco of Entrenchment Over Delayed Annual Meeting Process

Diana Shipping (DSX) on Friday accused Genco Shipping & Trading (GNK) of attempting to entrench its board by delaying key steps in its annual meeting process, escalating an ongoing dispute between the two companies.Diana said Genco filed a preliminary proxy statement without announcing a date for its 2026 annual meeting or setting a record date for shareholders eligible to vote.The company added that Genco had reserved multiple potential record dates but failed to finalize one, which it said created confusion and undermined shareholder participation.The Greek shipping firm, which owns about 14.8% of Genco, argued that the move was aimed at limiting shareholders' ability to influence the company's direction, including voting on Diana's nominees to Genco's board.It called on Genco to immediately announce a meeting date and allow investors to vote on key decisions.Diana also criticized Genco's response to its takeover proposal, saying the board has refused to engage since the offer was made five months ago.Genco didn't immediately respond to' request for comment.Price: $2.44, Change: $-0.01, Percent Change: -0.49%

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