Genco Shipping & Trading (GNK) said its board unanimously rejected a revised takeover proposal from Diana Shipping Inc., saying the offer undervalues the company and carries execution risks. The rejection preserves GNK's independence and creates deal risk for Diana; expect share volatility in GNK and Diana as takeover discussions and potential follow-ups evolve.
Genco Shipping & Trading (GNK) said its board unanimously rejected a revised takeover proposal from Diana Shipping Inc., saying the offer undervalues the company and carries execution risks. The rejection preserves GNK's independence and creates deal risk for Diana; expect share volatility in GNK and Diana as takeover discussions and potential follow-ups evolve.
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