Diana ends tender offer for Genco shares but steps up heat for deal
- Diana withdraws tender offer but keeps acquisition bid alive, saying its improved proposal to Genco’s board remains on the table despite the expiry of its shareholder offer
- Takeover battle escalates, with Diana accusing Genco of misleading investors about the extent of discussions between the two companies and seeking to protect the board’s position
- Diana warns delays are destroying value, arguing that softening dry bulk markets and falling vessel prices are increasing the cost of inaction for Genco shareholders
Diana Shipping has ended its tender offer for Genco shares but intensified pressure on the US-listed bulker owner, accusing its board of stonewalling takeover discussions as weakening dry bulk markets threaten to erode fleet values
