Business
Diana Shipping Inc. Increases Offer to Acquire Genco Shipping & Trading in Partnership With Star Bulk Carriers
Revised Offer of $23.50 Per Share Represents 31% Premium Over Undisturbed Closing Price Prior to Initial Offer Receives Fully Underwritten Commitment for $1.433 Billion in Financing Arranged by DNB Carnegie and Nordea, and Including Other Leading International Banks Star Bulk Enters into Definitive Agreement with Diana to Acquire 16 Genco Vessels for $470.5 Million Calls Upon Genco Board to Immediately Engage in Good Faith Negotiations to Reach Definitive Agreement ATHENS, Greece, March 06, 2026
About this update from Diana Shipping Inc.
[{"type":"text","content":"Revised Offer of $23.50 Per Share Represents 31% Premium Over Undisturbed Closing Price Prior to Initial Offer","length":110,"tagName":"p"},{"type":"text","content":"Receives Fully Underwritten Commitment for $1.433 Billion in Financing Arranged by DNB Carnegie and Nordea, and Including Other Leading International Banks","length":155,"tagName":"p"},{"type":"text","content":"Star Bulk Enters into Definitive Agreement with Diana to Acquire 16 Genco Vessels for $470.5 Million","length":100,"tagName":"p"},{"type":"text","content":"Calls Upon Genco Board to Immediately Engage in Good Faith Negotiations to Reach Definitive Agreement ","length":101,"tagName":"p"},{"type":"text","content":"ATHENS, Greece, March 06, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX) (“Diana” or the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, that owns approximately 14.8% of the outstanding shares of common stock of Genco Shipping & Trading Limited (NYSE: GNK) (“Genco”), today announced that it has increased its all-cash offer to acquire all of the issued and outstanding shares of Genco not already owned by Diana to $23.50 per share. The increased offer is made in partnership with Star Bulk Carriers Corp. (Nasdaq: SBLK) (“Star Bulk”), a global shipping company focusing on the transportation of dry bulk cargoes.","length":693,"tagName":"p"},{"type":"text","content":"On November 24, 2025, Diana submitted a proposal to acquire the remaining shares of Genco for $20.60 per share in cash, which the Genco Board rejected without substantive engagement. The increased offer reflects Diana’s continued belief in the financial and strategic merits of the proposed acquisition, and its commitment to delivering enhanced value to all Genco shareholders.","length":378,"tagName":"p"},{"type":"text","content":"The increased offer of $23.50 per share represents:","length":51,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"a 31% premium to the undisturbed closing share price of Genco on November 21, 2025, the last trading day prior to Diana’s initial proposal to acquire the remaining shares of Genco;","length":180,"tagName":"p"}]},{"val":[{"type":"text","content":"an implied dividend yield of 9.1% and 8.3% based on consensus of analyst estimates of dividends per share for 20...