Fight for Control of Genco Moves to Boardroom as Diana Nominates New Slate
The fight between Diana Shipping and Genco Shipping & Trading is set to move into the boardroom as Diana Shipping announced it will nominate a new slate of six directors for Genco. The move came just days after Genco’s board rejected a non-binding indicative takeover proposal for the company and said it would be better if Genco acquired Diana. The takeover battle was launched after Diana acquired 14.8 percent of the outstanding shares of Genco in open market transactions. After...
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