finance.yahoo.com

Diana Shipping Withdraws Takeover Bid for Genco After Nearly Year-Long Fight

Diana Shipping logoDiana Shipping
Sig2.82Sen-3.05Env0.00Soc0.00Gov-1.12
Genco Shipping & Trading logoGenco Shipping & Trading
Sig2.65Sen+1.15Env0.00Soc0.00Gov+1.10

Diana Shipping withdrew its nearly year-long takeover bid for Genco Shipping & Trading after Genco rejected terms Diana said no credible acquirer could meet. Diana’s final offer valued Genco at about $36.91 a share, a 42% premium, but Genco’s board and shareholders rejected the bid, voting against Diana’s nominees in June.

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