03:18 PM EDT, 06/05/2026 (MT Newswires) -- Genco Shipping & Trading ( GNK ) said Friday it urged shareholders to reject Diana Shipping's ( DSX ) attempt to acquire the company on the cheap with an inadequately priced tender offer at $24.80 per share and a proxy fight to replace the Genco board with its nominees.

Genco said Diana's offer is at a discount to its liquidation value, but the board is open to meeting again if Diana submits a revised proposal reflecting the company's value.

The company also urged stockholders to vote "withhold" on Diana's nominees, according to a statement.

Diana Shipping ( DSX ) did not immediately respond to a request for a comment from MT Newswires.

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