Genco Shipping & Trading announced on June 19, 2026, that its board is reviewing a revised acquisition proposal from Diana Shipping. This review follows Genco’s victory in a June 18 proxy battle where shareholders re-elected all six director nominees. The shareholder vote blocked Diana’s attempt to gain control of the board.
Diana Shipping submitted the unsolicited, non-binding offer on June 17. Genco is currently assessing the proposal with financial and legal advisors. Diana reaffirmed its commitment to the acquisition on June 19 and remains open to engaging with Genco’s shareholders.