Diana Shipping Withdraws Genco Acquisition Offer After Board Seeks $36.91/Share, Says 'Terms Are Unrealistic and Misaligned With Shareholders'
Following Nine Months of Avoiding Engagement, Genco Board Demands Consideration Valued at Approximately $36.91 Per Share — a 57% Premium to Genco’s Undisturbed Share Price at the Time of Diana’s Last OfferGenco’s
Diana Shipping tried to buy Genco but walked away because Genco's board wanted way too much money—57% more than Diana thought was fair. When companies can't agree on a price, the deal falls apart, which tells us there was disagreement about what the company is actually worth.
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