Diana Shipping: Tender offer to acquire outstanding shares of Genco Shipping & Trading

Diana Shipping is proceeding with a tender connection to get 100% of the outstanding shares of Genco Shipping & Trading astatine a terms of 23.5 dollars per stock successful cash.

The institution is addressing Genco’s shareholders straight pursuing a five-month play during which Genco’s Board of Directors declined to prosecute successful substantive discussions regarding the afloat financed acquisition proposal, thereby depriving shareholders of the accidental to recognize and decently measure the value of their investment, Diana noted successful its statement.

The 23.5 dollar per stock connection represents a 31% premium to the closing terms connected November 21, 2025, and astir 1.0x NAV, based connected fleet valuations published by Genco for the 4th fourth of 2025. Historically, Genco’s shares person traded astatine an mean discount of 30% to NAV since 2020. Diana’s connection eliminates this discount successful currency and invites Genco shareholders to tender their shares.

Genco’s Board rejected some proposals without entering into negotiations, a stance which, according to Diana, is aimed astatine preserving absorption positions and compensation astatine the disbursal of shareholders.

Diana Shipping’s Chief Executive Officer, Semiramis Paliou, stated: “We person spent 5 months seeking to prosecute with the Genco Board connected a transaction that would present certain, premium value to Genco shareholders astatine cyclically precocious plus values. The Genco Board has refused each effort — not a single meeting, not a single telephone telephone — and has not responded to the merger statement we delivered. We are present taking our connection straight to the radical it is designed to benefit: Genco shareholders. The Offer is afloat financed, there is nary execution risk, and there is nary financing condition. We impulse Genco shareholders to tender their shares and take an important step toward realizing the value they deserve.”