Diana Shipping Inc. and Star Bulk Carriers Announce Mutual Agreement to Terminate Vessel Sale and Purchase Agreement
Greece, Aug. 11 -- Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK) ("Genco"), and Star Bulk Carriers Corp. (Nasdaq: SBLK) ("Star Bulk") today announced that following Star Bulk's request, the parties have mutually terminated their agreement under which Star Bulk would acquire 16 Genco vessels upon completion of Diana's proposed acquisition of Genco. Diana's offer to acquire all outstanding Genco shares not already owned by Diana comprised of $24.80 per share in cash (adjusted for Genco's recently declared dividend of $0.80) plus one Diana share valued at $2.54 based on Diana's 30-day volume...
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