Genco Launches Website to Campaign Against Diana Takeover Attempt -- Market Talk

Dow Jones04-07

11:32 ET--Genco Shipping & Trading launches a website to persuade shareholders to vote down a takeover attempt by Diana Shipping, the latest sign that the tensions between the two drybulk shippers will lead to a proxy battle at Genco's 2026 shareholder meeting. Genco's website touts its corporate governance and financial performance, and reiterates the company's view that Diana's offer of $23.50 a share undervalues the company. Diana has nominated candidates to fill all seats on Genco's board, and Genco says on the website that if Diana is put in control of the company, it may approve a deal at a lower price or take other actions not in the best interest of Genco shareholders. Genco has not announced a date for its shareholder meeting, and says Tuesday that it will file its proxy statement "in due course." (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

April 07, 2026 11:32 ET (15:32 GMT)

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