Genco shares jump after Diana Shipping proposes $20.60 cash offer

Genco Shipping & Trading

24/11/2025 15:05

** Shares of Genco Shipping and Trading GNK.N rise ~7% at $19.09

** Diana Shipping DSX.N, which owns about 14.8% of GNK's outstanding shares, offers acquire to acquire the remaining outstanding shares of Genco for $20.60 per share in cash

** The deal represents a premium of 15% as per GNK's last close on November 21

** DSX says proposal is non-binding and approved by board, adds there is no guarantee a final deal will be reached

** DSX shares rises 1.2% to $1.7

** Including session's moves, GNK up 37% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))