12:45 PM EDT, 05/18/2026 (MT Newswires) -- Genco Shipping &Trading (GNK) again urged shareholders to reject Diana Shipping's (DSX) $23.50-a-share tender offer.

Genco said Monday in a statement that "Diana's low-ball offer continues to undervalue"its assets and business.

"The board unanimously rejected Diana's tender offer after receiving opinions from both Jefferies and Morgan Stanley, each confirming that the offer was inadequate,"Genco said.

Genco urged shareholders to vote in favor of the company's six director nominees and against Diana's shareholder proposals at the upcoming annual meeting.

Earlier Monday, Diana said Genco shares may fall significantly if its offer is withdrawn, arguing that the stock is currently supported by takeover expectations.

Genco shares rose 0.9% in Monday trading, and Diana gained 0.6%.

Price: 24.50, Change: +0.22, Percent Change: +0.91

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