Diana Shipping Increases Pressure on Genco With Unsolicited Tender Offer
The now long-running takeover battle designed to reshape the dry bulk segment took a new turn as Diana Shipping announced it has opened a tender offer for the shareholders of Genco Shipping. It is the latest step in the five-month battle that shows no signs of being resolved. Diana launched the offer to acquire the shares of Genco that it does not already own, and later increased the valuation after questions were raised about its ability to finance the combination....
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