Genco Shipping & Trading Rejects Diana Shipping's Takeover Offer
Genco Shipping & Trading (NYSE:GNK) has rejected an unsolicited takeover offer from Diana Shipping Inc. (NASDAQ:DSX), stating the bid undervalues its assets and lacks a control premium. The board emphasized that any successful acquisition would need to reflect Genco's true asset value and provide adequate compensation for control.
Topics: drybulk carriers shipping takeover bid