# GENCO SHIPPING & TRADING LTD (GNK) — tender_offer/third_party [announced]
Source: SEC API (secapi.ai) · situation sit_3ea79eefe4b9a7703087 · retrieved 2026-08-11T15:51:36.266Z

## Overview
Genco Shipping & Trading Limited is a U.S.-based drybulk ship owning company focused on the seaborne transportation of commodities globally; its fleet consists of 43 vessels with an aggregate capacity of approximately 4,935,000 dwt.

Diana Shipping Inc. and its subsidiary 4 Dragon Merger Sub Inc. launched an unsolicited tender offer to acquire all outstanding common shares of Genco Shipping & Trading Limited for $24.80 per share in cash. Diana subsequently made a revised, non-binding indicative proposal to acquire Genco's shares for $24.80 per share in cash plus one Diana share. Genco's Board, advised by Jefferies LLC (financial advisor) and Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP (legal counsel), is conducting a thorough review of Diana's proposal and continues to recommend that shareholders reject Diana's separate $24.80 per share tender offer, citing concerns about the valuation of Diana shares (valued by Diana at $2.54 but trading at $2.20 on July 22), potential dilution from new share issuance, and the impact of Diana's proposed sale of 16 Genco vessels to Star Bulk at below-market prices.

## Terms
- Counterparty: Diana Shipping Inc. · Consideration: mixed · Price/share: $24.8

## Key dates
- Announced 2026-07-23

## Timeline
- 2026-07-23 · SC 14D9/A (0001140361-26-029428): SC 14D9/A - GENCO SHIPPING & TRADING LTD — *Genco Shipping & Trading Limited is a U.S.-based drybulk ship owning company focused on the seaborne transportation of commodities globally; its fleet consists of 43 vessels with an aggregate capacity of approximately 4,935,000 dwt.* Diana Shipping Inc. and its subsidiary 4 Dragon Merger Sub Inc. launched an unsolicited tender offer to acquire all outstanding common shares of Genco Shipping & Trading Limited for $24.80 per share in cash. Diana subsequently made a revised, non-binding indicative proposal to acquire Genco's shares for $24.80 per share in cash plus one Diana share. Genco's Board, advised by Jefferies LLC (financial advisor) and Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP (legal counsel), is conducting a thorough review of Diana's proposal and continues to recommend that shareholders reject Diana's separate $24.80 per share tender offer, citing concerns about the valuation of Diana shares (valued by Diana at $2.54 but trading at $2.20 on July 22), potential dilution from new share issuance, and the impact of Diana's proposed sale of 16 Genco vessels to Star Bulk at below-market prices.
  https://www.sec.gov/Archives/edgar/data/1326200/0001140361-26-029428.txt

## Citations
- 0001140361-26-029428 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000114036126029428