{"id":114409,"date":"2026-03-07T13:49:03","date_gmt":"2026-03-07T16:49:03","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/897856625"},"modified":"2026-03-07T13:49:03","modified_gmt":"2026-03-07T16:49:03","slug":"diana-shipping-in-partnership-with-star-bulk-raise-takeover-bid-for-geneco-shipping-stock-falls","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/07\/diana-shipping-in-partnership-with-star-bulk-raise-takeover-bid-for-geneco-shipping-stock-falls\/","title":{"rendered":"Diana Shipping In Partnership With Star Bulk Raise Takeover Bid For Geneco Shipping, Stock Falls"},"content":{"rendered":"
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Friday, Diana Shipping Inc. (DSX<\/a>), which owns about 14.8 percent stake in Genco Shipping & Trading Limited (GNK<\/a>), announced that it has increased its all-cash offer to acquire all of the issued and outstanding shares of the company for $23.50 per share. <\/p>\n

The increased offer, made in partnership with Star Bulk Carriers Corp. (SBLK<\/a>), reflects Diana’s continued belief in the financial and strategic merits of the proposed acquisition, and its commitment to delivering enhanced value to all Genco shareholders.<\/p>\n

The revised proposal is backed by $1.433 billion of fully committed financing, arranged by DNB Carnegie and Nordea, with participation from leading international banks.<\/p>\n

Concurrently, Star Bulk has entered into a definitive agreement with Diana to acquire 16 Genco vessels for $470.5 million in cash upon completion of Diana’s acquisition of Genco.<\/p>\n

Currently, GNK is trading at $21.93, down 5.31 percent, and DSX is moving down 6.52 percent, to $2.36 on the New York Stock Exchange. Meanwhile, SBLK is falling 4.58 percent, to $23.48 on the Nasdaq. <\/p>\n

For comments and feedback contact: editorial@rttnews.com<\/p>\n

Business News<\/a><\/p>\n<\/div>\n

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Slide Shows <\/p>\n<\/p><\/div>\n<\/div>\n

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Friday, Diana Shipping<\/span> Inc. (DSX), which owns about … .8 percent stake in Genco Shipping<\/span> & Trading Limited (GNK), announced …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-114409","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/114409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=114409"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/114409\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=114409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=114409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=114409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}