Diana Shipping Reaffirms Offer To Acquire Genco Shipping And Trading
Summary
Diana Shipping has reaffirmed its offer to acquire Genco Shipping and Trading. This follows the company's recent increase of its all-cash tender offer to $27.34 per share on June 17th, which Genco had previously rejected at a lower price. The reaffirmation signals Diana Shipping's continued commitment to the acquisition, maintaining pressure on Genco's board and shareholders in this ongoing M&A battle.
At the time of this announcement, DSX was trading at $2.14 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $259.4M. The 52-week trading range was $1.46 to $2.92. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.