Diana Shipping Inc. /
Genco
Diana Shipping Inc. pursues unsolicited $23.50 per Share tender offer for Genco
Source for the buyer and target: Genco Shipping & Trading Ltd
For the buyer and target.
“This Statement relates to the unsolicited tender offer by Diana Shipping Inc., a Marshall Islands corporation (“Diana”) and 4 Dragon Merger Sub Inc., a Marshall Islands corporation and a direct wholly-owned subsidiary of Diana (the “Purchaser”), to purchase all of the issued and outstanding Shares, other than Shares held in treasury by Genco, for $23.50 per Share in cash, without interest and less any required withholding taxes.”
Published 15 May 2026
Open the sourceWhat happened
Diana Shipping Inc. has launched an unsolicited tender offer to buy all outstanding shares of Genco, other than those held in treasury, for $23.50 per Share in cash. The offer is made through its wholly-owned subsidiary 4 Dragon Merger Sub Inc. Genco filed this statement in response. [01]
The offer is set to expire at 5:00 p.m., New York City time, on June 2, 2026, unless it is extended or ended earlier. It carries several conditions, including that Genco enter into a definitive merger agreement with Diana, that its shareholder rights plan be removed or made inapplicable, and that the Genco board approve the transaction. No agreement has been signed. [01]
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Diana Shipping Inc. pursues unsolicited $23.50 per Share tender offer for Genco
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Also stated
“The offer is set to expire at 5:00 p.m., New York City time, on June 2, 2026, unless it is extended or ended earlier”
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