Genco Stock Rises After Diana Shipping Offers All Cash Buyout At 15% Premium

Diana Shipping said it currently owns approximately 14.8% of Genco’s outstanding shares.
Currency and Exchange Stock Chart for Finance and Economy Display. (Image Courtesy: Getty Images)
Currency and Exchange Stock Chart for Finance and Economy Display. (Image Courtesy: Getty Images)
Profile Image
Published Nov 24, 2025   |   9:37 AM EST
Share
·
Add us onAdd us on Google

Genco Shipping & Trading (GNK) shares jumped over 7% in early trading on Monday after Diana Shipping Inc. (DSX) submitted a letter to the former’s board of a proposal to acquire all of the outstanding shares of Genco not already owned by Diana for $20.60 per share in cash.

Diana Shipping said it currently owns approximately 14.8% of Genco’s outstanding shares. The deal values Genco at nearly $891 million.

The company said that the offer price represents a 15% premium to Genco’s closing price of $17.90 on November 21 and a 21% premium to the closing price of $15 on July 17, the date of the initial disclosure of Diana’s ownership stake in Genco.

Get updates to this developing story directly on Stocktwits.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Fulton, Blue Foundry Announce All-Stock Merger Valued At $243 Million

Share
·
Add us onAdd us on Google
Read about our editorial guidelines and ethics policy