Genco board says Diana offer is too low to win control

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Genco Shipping & Trading (NYSE: GNK) has rejected an indicative acquisition proposal from Diana, stating it is below the company’s intrinsic value and net asset value (NAV) and lacks a control premium. While the board is committed to maximizing shareholder value and remains open to engagement, they will only consider an offer that appropriately reflects Genco’s true worth and upside potential. The company has retained financial and legal advisors, including Jefferies LLC and Herbert Smith Freehills Kramer, to assist in this process.

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