Genco Shipping extended its shareholder rights plan, or poison pill, for one year through 30 September 2027 and relaxed its acquisition proposal rules. Diana Shipping ended its pursuit of an acquisition and reduced its stake to approximately 9.5%.
Genco Shipping reportedly extended its shareholder rights plan, commonly known as a poison pill, for one year through 30 September 2027. This extends the period during which defensive measures can be applied to specific acquisition proposals. The rules for determining whether acquisition proposals qualify were also reportedly relaxed.
At the same time, Diana Shipping is said to have ended its pursuit of an acquisition proposal for Genco and reduced its stake to approximately 9.5%. This reportedly reduced Diana Shipping’s influence over Genco’s voting rights.