The shift signals a potential thawing in relations between the two maritime firms. Genco’s board is currently weighing whether the offer provides a sufficient control premium to justify a sale. A significant point of contention remains the stock-component of the bid; Genco’s advisers are analyzing whether the issuance of new Diana shares would trigger unwanted dilution, effectively eroding the value delivered to Genco investors.

Despite the new engagement, Genco’s board maintains its defensive posture against Diana’s concurrent tender offer. Shareholders have been advised to reject the $24.80 cash-only tender, which lacks the equity component found in the broader merger proposal. Previous bids from Diana were dismissed by Genco leadership as insufficient representations of the company's underlying assets and business health.