Genco Shipping Trading is trading 5% up at $25.53 as investors react to the July 10 deadline for Diana Shipping's hostile tender offer.
- Diana Shipping’s cash offer of $24.80 per share is scheduled to expire today at 5:00 p.m. New York time.
- Genco has urged its shareholders not to tender their shares, citing strategic concerns and arguing against the merits of the hostile approach.
- The stock is currently trading at a premium to the offer price, reflecting heightened market interest and volatility surrounding the pending deadline.