Added to YB: 2026-06-26
Pitch date: 2026-06-24
GNK [neutral]
Genco Shipping & Trading Limited
Author Info
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Company Info
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide.
Market Cap
$1.1B
Pitch Price
N/A
Price Target
N/A
Dividend
3.82%
EV/EBITDA
13.39
P/E
64.09
EV/Sales
3.52
Sector
Marine Transportation
Category
special_situation
$GNK: the hostile bid the board just beat at the ballot box
GNK (overview): US dry-bulk operator under hostile $24.80/sh all-cash tender from Diana Shipping (DSX, 14.4% holder), expiring June 26. Board swept June 18 vote (~90% non-Diana), keeping pill/merger blocked—offer near-impossible to close. Trades ~$24 vs $26.66 analyst NAV. Key risk: if Diana walks, stub re-rates to cycle, not NAV; if Diana raises, 'bid dead' thesis wrong.
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