GNK - Genco Shipping & Trading Limited Board of Directors Provides Update on Review of Diana Shipping’s Revised, Non-Binding Indicativ

GNK Genco board reviews Diana Shipping's revised acquisition proposal Genco Shipping & Trading Limited (NYSE: GNK) said its Board of Directors is continuing to review a revised, non-binding indicative proposal from Diana Shipping Inc. to acquire all outstanding Genco common shares not already held by Diana for $24.80 per share in cash plus one Diana share. According to a statement based on the press release, Genco's Advisors have engaged with Diana's Advisors on multiple occasions in recent weeks to discuss the price, terms, and structure of the proposal. Jefferies LLC is serving as financial advisor to Genco, with Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP as legal counsel, and Morgan Stanley & Co. LLC as special advisor to the board.