Genco Shipping & Trading Rejects Diana Shipping's Revised $23.50/Share Proposed Acquisition Offer

Genco Shipping & Trading Limited (NYSE: GNK) has rejected Diana Shipping Inc.'s revised acquisition offer of $23.50 per share for the outstanding shares of Genco. The Board of Directors, after a review by a special committee of independent directors and external advisors, concluded that the proposal undervalues the company and does not provide a suitable premium for shareholders, while also posing execution risks.