-- 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%