The European Commission is set to make a decision by April 8, 2025, on whether to approve Danish logistics company DSV’s €14.3 billion ($15.43 billion) acquisition of German rival Schenker, according to a recent filing on the European Commission’s website.
The transaction, announced in September 2024, would create the world’s largest logistics company by revenue and workforce.
Regulatory Review and Antitrust Considerations
The European Union’s competition authority will conduct an initial review to determine whether the deal raises significant antitrust concerns. The regulator may either grant unconditional approval, approve the transaction with remedies, or initiate a more detailed four-month investigation if competition risks are identified.
Although the merger would place DSV ahead of DHL Logistics and Swiss group Kuehne + Nagel, the combined entity is expected to hold only 6% to 7% of the highly fragmented global logistics market, Reuters reported. The deal aims to strengthen DSV’s global network and competitiveness, benefiting employees, customers, and investors.
Strategic Impact of the Acquisition
The acquisition marks the largest transaction in DSV’s history and is expected to significantly enhance its service capabilities. Following the integration, the combined entity will have an estimated pro forma revenue of approximately €39.3 billion, with a workforce of around 147,000 employees spanning more than 90 countries.
Jens H. Lund, Group CEO of DSV, emphasized the strategic benefits of the acquisition: “This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker. By adding Schenker’s competencies and expertise to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road, and Solutions. The acquisition will provide our customers with even higher service levels, innovative and seamless solutions, and increased flexibility in their supply chains.”
Germany as a Key Market
With Schenker’s strong presence in Germany, DSV has committed to making the country a central hub for its future operations. The company plans to invest €1 billion in Germany over the next three to five years to support long-term growth, job creation, and the development of modern and sustainable workplaces. DSV anticipates that, within five years, the combined organization will employ more people in Germany than the current separate workforces of DSV and Schenker.
Jochen Thewes, CEO of Schenker, expressed optimism about the future of the combined business: “DB Schenker is one of the most powerful and innovative teams in transportation and logistics, with more than 150 years of experience. The recent years have been the most successful in our company’s history, and we have proven that DB Schenker is fit for the future. Together with DSV, our goal is to transform the industry and build a truly global market leader with joint European roots for the benefit of our employees and customers.”
Deutsche Bahn’s Perspective on the Sale
Deutsche Bahn, Schenker’s parent company, has positioned the sale as a strategic move to secure long-term growth prospects for its logistics subsidiary.
Richard Lutz, CEO of Deutsche Bahn, remarked: “The sale of DB Schenker to DSV marks the largest transaction in DB’s history and provides our logistics subsidiary with clear growth prospects. It has been important for us to find a strong partner for Schenker and a long-term home for its employees.”
