Topic
corporate action
Logistics Diana Shipping withdraws Genco takeover after board rejects terms
Greece's Diana Shipping has withdrawn its takeover offer for Genco Shipping & Trading after the US bulker's board set terms Diana valued at about $36.91 per share, ending a nine-month battle. Diana's CEO called the demands "outrageous," but the company remains Genco's largest shareholder with more than 14% of stock.
Logistics Diana Shipping and Genco Trade Fire Before Tender Deadline as Public Battle Escalates
The takeover fight between Diana Shipping and Genco Shipping & Trading has intensified in the final stretch before Diana's tender offer deadline on July 10. Genco has urged shareholders not to tender, arguing that the offer undervalues the company, while Diana accuses Genco of avoiding negotiations. As of June 26, 10.6 million Genco shares had been tendered, representing 28.4% of outstanding shares not owned by Diana.
Logistics Diana Shipping Extends Hostile Tender for Genco, Intensifying Dry Bulk Consolidation Battle
Diana Shipping has extended its hostile tender offer for Genco Shipping & Trading to July 18, maintaining pressure in one of dry bulk's most closely watched takeover battles. The offer, valued at $27.34 per share, is backed by a $1.433bn financing package, with Star Bulk Carriers poised to acquire 16 Genco vessels for $470.5m if the deal proceeds. As of June 26, about 10.5m Genco shares (28.4% of outstanding) had been tendered.
Business Wipro's Rs 15,000 Crore Buyback Opens: What Retail Investors Should Know
Wipro's Rs 15,000 crore buyback opened on June 10, offering shares at Rs 250 apiece—well above the market price of under Rs 180. Small shareholders have higher entitlement ratios, but analysts expect only about 21% acceptance, limiting potential gains. The offer closes on June 17.