Diana Shipping Inc. (DSX) concludes its tender offer for all Genco Shipping & Trading Ltd. (GNK) shares on June 26, 2026. The latest cash offer stands at $24.80 per share. A revised June 17 proposal suggests a total implied value of $27.34 per share. This revised offer includes the exchange of one Diana share.
Genco’s Board of Directors rejected the offers, stating they undervalue the company and its assets. Shareholders faced a 5:00 p.m. New York City deadline to tender their shares. Official results remain unannounced as investors gauge shareholder support for the acquisition.