Shipping
Diana Shipping reduces Genco stake below 10% threshold after failed takeover
Diana Shipping sold 285,707 Genco shares between August 27 and September 2 for approximately $7.5 million, reducing its stake to about 4.13 million shares and dropping below the 10% ownership threshold. The move follows Diana's withdrawal of its takeover proposal on August 14, when the two companies failed to agree on valuation. Diana's final offer was $24.80 in cash plus one Diana share, while Genco sought a package valued at roughly $36.91 per share.
