{"id":979772,"date":"2026-07-08T11:16:34","date_gmt":"2026-07-08T15:16:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/"},"modified":"2026-07-08T11:16:34","modified_gmt":"2026-07-08T15:16:34","slug":"genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/","title":{"rendered":"Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Tender Offer is For Only $24.80 Per Share in Cash<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Cautions Shareholders Not to Tender into $24.80 Per Share Tender Offer<\/em>\n      <\/p>\n<p>NEW YORK, July  08, 2026  (GLOBE NEWSWIRE) &#8212; Genco Shipping &amp; Trading Limited (NYSE:GNK) (\u201cGenco\u201d or the \u201cCompany\u201d), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding the pending tender offer by Diana Shipping Inc. (\u201cDiana\u201d):<\/p>\n<p>We are dismayed by Diana\u2019s continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana\u2019s tender offer.<\/p>\n<p>To set the record straight, Diana has taken two separate and fully distinct actions:<\/p>\n<ul>\n<li style=\"list-style-type:none\">\n<ul type=\"disc\">\n<li>A tender offer for\u00a0<em>only<\/em> $24.80 per share in cash. It is <strong><u>not<\/u><\/strong> for $27.34 per share as Diana misleadingly suggests. <\/li>\n<li>An indicative non-binding proposal made to the Genco Board of Directors to acquire Genco for consideration consisting of $24.80 in cash and one share of Diana stock.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <strong>If you tender your shares into the tender offer, you would only receive $24.80 per share in cash<\/strong>, assuming the many conditions are met. Even though Diana has been promising to file an amended tender offer statement on Schedule TO and a registration statement on Form F-4 since June 17, Diana has NOT updated its tender offer materials to align the tender offer\u2019s terms with the terms of its indicative, non-binding proposal to the Genco Board.<\/p>\n<p>Genco\u2019s Board previously reviewed and unanimously rejected the $24.80 tender offer, determining that it continued to meaningfully undervalue the Company and its assets, remained well below Genco\u2019s net asset value (NAV) and did not include any control premium.<\/p>\n<p>In accordance with its fiduciary duties, Genco\u2019s Board is taking the time it needs to fully and carefully review Diana\u2019s separate, indicative, non-binding proposal. The Board is reviewing this separate proposal in light of Genco\u2019s continued strong performance and current and anticipated market conditions, among other considerations.<\/p>\n<p>The Board is committed to maximizing shareholder value and will continue taking actions that it believes are in the best interests of all Genco shareholders.<\/p>\n<p>Jefferies LLC is acting as financial advisor to Genco and Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP are serving as legal counsel to Genco. Morgan Stanley &amp; Co. LLC is acting as special advisor to the Board of Directors.<\/p>\n<p>\n        <strong>About Genco Shipping &amp; Trading Limited<\/strong>\n      <\/p>\n<p>Genco Shipping &amp; Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We transport key cargoes such as iron ore, coal, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Newcastlemax and Capesize vessels (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk), enabling us to carry a wide range of cargoes. Genco\u2019s fleet consists of 43 vessels with an average age of 12.6 years and an aggregate capacity of approximately 4,935,000 dwt.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>This communication contains statements that may constitute forward-looking statements. These statements include, but are not limited to: statements related to the Company\u2019s views and expectations regarding Diana Shipping Inc.\u2019s unsolicited tender offer; any statements relating to the plans, strategies and objectives of management or the Company\u2019s Board for future operations and activities; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on the Company and its financial performance; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as \u201canticipate,\u201d \u201cbudget,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances or future operating or financial performance. These forward-looking statements are based on our management\u2019s current expectations and observations. Included among the factors that, in our view, could cause actual results to differ materially from the forward looking statements contained in this release are the following: (i) the Company\u2019s plans and objectives for future operations; (ii) that any transaction based on Diana\u2019s non-binding indicative proposal or otherwise may not be consummated at all; (iii) the ability of Genco and its shareholders to recognize the anticipated benefits of any such transaction; (iv) the exercise of the discretion of our Board regarding the declaration of dividends, including without limitation the amount that our Board determines to set aside for reserves under our dividend policy; and (v) other factors listed from time to time in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent reports on Form 8-K and Form 10-Q. Our ability to pay dividends in any period will depend upon various factors, including the limitations under any credit agreements to which we may be a party, applicable provisions of Marshall Islands law and the final determination by the Board of Directors each quarter after its review of our financial performance, market developments, and the best interests of the Company and its shareholders. The timing and amount of dividends, if any, could also be affected by factors affecting cash flows, results of operations, required capital expenditures, or reserves. As a result, the amount of dividends actually paid may vary. In addition, the forward-looking statements included in this communication represent the Company\u2019s views as of the date of this communication and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company\u2019s views as of any date subsequent to the date of this communication.<\/p>\n<p>\n        <strong>Important Information for Investors and Shareholders<\/strong>\n      <\/p>\n<p>This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. The Company has filed a solicitation\/recommendation statement on Schedule 14D-9 with the SEC (available\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_4F3wAeyCgWl1QQ712NMD0ZdOmvq5tkeHRvNWyf3k3VIgpmm_dyvlsszDiNkiirai5esniBFyheJGO6ayVcPNXrIz2-ZV8St8rdma0aQIzUJ4Am7Red0yc4SVk9tBKXnle9Daxw8ku0EeusnlNIqVKMcgMNqTOugBVZkKRDS1Q4Gu2KcYwbECN6v5Napp2JNIhasW8WJ_M3WwjV_ucuA7aLIcrWAt53JHcPf7DageDdbFficKvObMR6m2B7HFOCOYF_uBOhbzlyluxhe-T7CddbdhSLtNWtw5PRVGAzjrpBZOe80LJzHls3yEjDUpU6tiMuazkbMHXU0OBfGdCOg-g==\" rel=\"nofollow\" target=\"_blank\">here<\/a>). Any solicitation\/recommendation statement filed by the Company that is required to be mailed to shareholders will be mailed to shareholders. THE COMPANY\u2019S INVESTORS AND SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY\u2019S SOLICITATION\/RECOMMENDATION STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders may obtain a copy of the solicitation\/recommendation statement on Schedule 14D-9, any amendments or supplements thereto and other documents filed by the Company with the SEC at no charge at the SEC\u2019s website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=S-iDwlKz_A-2iNTy7H9-F83XvNNg8uLOTx72ZYKoYzqkP3Fpgz-GkuxBPtALDcX5xpHWoNxkr4p9tjaU_ErhrgcuAY3R3eGkh7aW6mNrDEkBKM-qbxVrrtTaQYGSDMs4XG23ZB7DavWlu81SXTlfVBEZNgyJMfZOf3VGwj_6Afz8FmgzMbQkKC7kQ6r7Yt4jIwYnmbui3SDa2PU-RlZElODDepSWjk_WdHtjlMinJYg=\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>. Copies will also be available at no charge by clicking the \u201cSEC Filings\u201d link in the \u201cFinancials\u201d section of the Company\u2019s investor relations website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RzWu4aN9D76vyRdm4yp6N0_9jLesjAo5GeMM8fVw82i53N158GNH7nkjGecCMCS6tBBjezzoOA4h-vX_ZwXpDxe8qIr167MMhna0DAiDFCspZkg2d7WZr-DGN4aDXwuDE6z7A2N6qTR7njkigATqu5Qi8Lu_SRADvskvxuA1u0BjjWFQ63JkIZic9A0lyyDYaTq_UYY8OfXC5foI90jr39JfcNRTpxmFYBAg0zeDK1aGyHY6ZXbwYUgLBmOshoS8yECb4F2PNPfsrPK8MJCnw4emNqJB_sYdzPWE8H-dGWA8jQlpdy1WJtpe4Kmm0P4LiD1O5nEGJ4wVQAeANnzCSWWHkCQx2nvDNxkvhACGkDw=\" rel=\"nofollow\" target=\"_blank\">https:\/\/investors.gencoshipping.com\/<\/a>, or by contacting Peter Allen as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.<\/p>\n<p>\n        <strong>Investor Contact<\/strong>\n      <\/p>\n<p>Peter Allen<br \/>Chief Financial Officer<br \/>Genco Shipping &amp; Trading Limited<br \/>(646) 443-8550<\/p>\n<p>\n        <strong>Media Contact<\/strong>\n      <\/p>\n<p>Leon Berman<br \/>IGB Group<br \/>(212) 477-8438<br \/>lberman@igbir.com<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc1OTA2NiM3Njk2OTMxIzIwMDgxOTU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ODAxMWU4MjYtZjhjZS00YjFlLWEwOWMtMmYyMzc5NzNhMDAxLTEwMTk3NjgtMjAyNi0wNy0wOC1lbg==\/tiny\/Genco-Shipping-Trading-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tender Offer is For Only $24.80 Per Share in Cash Cautions Shareholders Not to Tender into $24.80 Per Share Tender Offer NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) &#8212; Genco Shipping &amp; Trading Limited (NYSE:GNK) (\u201cGenco\u201d or the \u201cCompany\u201d), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding the pending tender offer by Diana Shipping Inc. (\u201cDiana\u201d): We are dismayed by Diana\u2019s continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana\u2019s tender offer. To set the record straight, Diana has taken two separate and fully distinct actions: A tender offer for\u00a0only $24.80 per share in cash. It is not for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-979772","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Tender Offer is For Only $24.80 Per Share in Cash Cautions Shareholders Not to Tender into $24.80 Per Share Tender Offer NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) &#8212; Genco Shipping &amp; Trading Limited (NYSE:GNK) (\u201cGenco\u201d or the \u201cCompany\u201d), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding the pending tender offer by Diana Shipping Inc. (\u201cDiana\u201d): We are dismayed by Diana\u2019s continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana\u2019s tender offer. To set the record straight, Diana has taken two separate and fully distinct actions: A tender offer for\u00a0only $24.80 per share in cash. 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Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/","og_locale":"en_US","og_type":"article","og_title":"Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures - Market Newsdesk","og_description":"Tender Offer is For Only $24.80 Per Share in Cash Cautions Shareholders Not to Tender into $24.80 Per Share Tender Offer NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) &#8212; Genco Shipping &amp; Trading Limited (NYSE:GNK) (\u201cGenco\u201d or the \u201cCompany\u201d), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding the pending tender offer by Diana Shipping Inc. (\u201cDiana\u201d): We are dismayed by Diana\u2019s continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana\u2019s tender offer. To set the record straight, Diana has taken two separate and fully distinct actions: A tender offer for\u00a0only $24.80 per share in cash. It is not for &hellip; Continue reading \"Genco Shipping &amp; Trading Limited Comments on Diana Shipping Inc.\u2019s Misleading Tender Offer Disclosures\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/","og_site_name":"Market Newsdesk","article_published_time":"2026-07-08T15:16:34+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTc1OTA2NiM3Njk2OTMxIzIwMDgxOTU=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genco-shipping-trading-limited-comments-on-diana-shipping-inc-s-misleading-tender-offer-disclosures\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Genco Shipping &amp; 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