Latest Direct Proposal of $27.34 Per Share, Comprised of $24.80 in Cash and One Diana Share, Remains on the Table
Diana’s increased offer made directly to the Genco Board to acquire the outstanding shares of Genco that it does not already own for $27.34 per share — comprised of $24.80 per share in cash plus one Diana share valued at $2.54 based on Diana’s 30-day volume-weighted average price as of June 16, 2026 — remains on the table.
Semiramis Paliou, Diana’s Chief Executive Officer, commented:
“We are pleased that additional shareholders have tendered their shares, but this transaction cannot move forward through a tender offer alone. To unlock the compelling value of this combination, both of our leadership teams and advisors must come together to negotiate in good faith, with a shared commitment to delivering full value for Genco shares at a high point in the shipping cycle.”
Diana’s offer is supported by $1.412 billion in committed financing from six leading international banks with no financing condition. It represents a 53% premium to Genco’s undisturbed share price and a 6% premium to Genco’s net asset value per share based on VesselsValue data, at cyclically high dry bulk asset values that are at or near 15-year highs.
About Diana Shipping Inc.
Diana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels…
