Genco Says Proxy Firms Back its Board in Diana Proxy Battle -- Market Talk

Dow Jones06-06

1345 ET - Genco Shipping & Trading says proxy advisory firms Glass Lewis and Egan-Jones Proxy Services are backing Genco's board as the company looks to fend off a proxy battle from rival drybulk shipper Diana Shipping. Diana has nominated candidates to fill Genco's board and launched a tender offer to acquire the company's outstanding equity. Genco says both proxy firms noted that Diana's bid is below Genco's net asset value estimates, adding that the company's recent returns and performance weaken Diana's case. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

June 05, 2026 13:45 ET (17:45 GMT)

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Genco says both proxy firms noted that Diana's bid is below Genco's net asset value estimates, adding that the company's recent returns and performance weaken Diana's case. 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Diana has nominated candidates to fill Genco's board and launched a tender offer to acquire the company's outstanding equity. Genco says both proxy firms noted that Diana's bid is below Genco's net asset value estimates, adding that the company's recent returns and performance weaken Diana's case. 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