09:44 AM EDT, 05/04/2026 (MT Newswires) -- Diana Shipping (DSX) said Monday it has launched a tender offer to purchase all outstanding equity of Genco Shipping &Trading for $23.50 per share in cash.

The proposal follows the target board's refusal to negotiate previous bids and is scheduled to expire on June 2, the company said.

The current offer is backed by $1.43 billion in committed financing, and the prospective buyer separately agreed to sell 16 of the target's vessels to Star Bulk Carriers for $470.5 million, once the transaction is finalized, Diana Shipping said.

Diana Shipping

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