Diana Shipping has walked away from its buyout bid for Genco, blaming the target’s board for stonewalling talks — even as 31% of shareholders tendered shares. Diana is returning those shares and demanding honest negotiations, while also highlighting a 51 million drop in Genco’s fleet value amid a cooling dry bulk market. Genco’s stock tumbled 5% in response — a notable move, though not its biggest in a year — yet the company remains up 36% YTD, near its May 2026 peak. A 1,000-dollar investment five years ago would now be worth $1,425 — proving Genco’s underlying business has held strong despite the drama.
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