Diana Shipping In Partnership With Star Bulk Raise Takeover Bid For Geneco Shipping, Stock Falls

Friday, Diana Shipping Inc. (DSX), which owns about 14.8 percent stake in Genco Shipping & Trading Limited (GNK), announced that it has increased its all-cash offer to acquire all of the issued and outstanding shares of the company for $23.50 per share. The increased offer, made in partnership with Star Bulk Carriers Corp. (SBLK), reflects Diana's continued belief in the financial and strategic merits of the proposed acquisition, and its commitment to delivering enhanced value to all Genco shareholders.The ...