NYSE:GNKShipping
Diana’s Higher Bid Puts Genco Valuation And Control Premium In Focus
Diana Shipping has increased its acquisition offer for Genco Shipping & Trading (NYSE:GNK) and secured committed financing.
The proposal includes a related arrangement for Star Bulk Carriers to acquire a significant portion of Genco's fleet if the deal is completed.
Genco's board has confirmed receipt of the revised offer and is currently reviewing the new terms.
Genco focuses on dry bulk shipping, moving commodities like iron ore, coal and grain across global trade routes. The fresh offer...