Genco Shipping & Trading Limited confirmed receipt of a revised unsolicited, indicative non-binding proposal from Diana Shipping Inc. The Genco Board stated it will carefully review the revised proposal in consultation with its financial and legal advisors, while emphasizing that the Annual Meeting on June 18, 2026 will convene as scheduled. The Board noted that Diana announced its revised offer only 24 hours before the long-scheduled meeting, and postponing it would create undue burden on shareholders. Genco urged shareholders to vote on the WHITE proxy card by 11:59 PM ET tonight, supporting its director nominees and the shareholder rights plan designed to prevent Diana from taking creeping control of the company.
Genco Shipping & Trading LtdGenco received a revised takeover proposal from Diana Shipping, but the board is reviewing it and recommends shareholders vote for its own nominees and rights plan, creating uncertainty.
Diana Shipping Inc.