IndexBox Deals and strategy
Diana Shipping Ends Takeover Bid for Genco Shipping After Rejection - News and Statistics
Diana Shipping has withdrawn its nine-month-long takeover bid for Genco Shipping & Trading after Genco's board presented conditions that Diana deemed unreasonable, pricing Genco at approximately $36.91 per share. The proposed deal involved a cash payment, dividend-tied compensation, and Diana shares, which Genco argued was necessary to reflect its net asset value and provide a control premium. Despite …