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Diana Shipping drops its Genco bid after a year. The fight probably isn't over.

9/7/2026

Nearly a year of tender offers and a proxy fight ended on August 14, 2026, with Diana Shipping Inc.

(NYSE: DSX) formally pulling its bid for Genco Shipping & Trading Limited (NYSE: GNK), citing terms it said no credible acquirer could realistically meet.

Diana stayed on the shareholder register as Genco's largest holder, which makes the win harder to read than it looks. The case for Diana's position rests on the premium it put on the table.

Diana's final offer valued Genco at approximately $36.91 per share, calculated from Diana's August 13 closing price, a 42% premium to Genco's closing price that same day.