Genco Shipping & Trading Issues Statement

NodeGuardian · 2026-03-24T00:00:03+00:00

Genco Shipping & Trading Limited has rejected Diana's proposal, citing it as undervalued and lacking a control premium. The Board is dedicated to maximizing shareholder value and is open to reconsidering if a suitable offer is presented.

NodeGuardian

2026-03-24 00:00:03

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Genco Shipping & Trading Limited (NYSE:GNK) has issued a statement rejecting Diana’s indicative proposal, stating it is “well below Genco’s intrinsic value and NAV and fails to provide a premium for control of Genco.” The company’s Board of Directors asserts its commitment to maximizing shareholder value and remains open to engaging with Diana if an offer appropriately reflects Genco’s intrinsic value and upside potential. Genco is advised by Jefferies LLC and legal counsel Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP, with Morgan Stanley & Co. LLC acting as special advisor to the Board.

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