DSV on Tuesday said it had fulfilled the final closing conditions for its acquisition of German logistics provider Schenker.
Logistics provider DSV (DSV:CO) on Tuesday said it had cleared the final regulatory hurdles for its acquisition of DB Schenker of Germany.
Denmark-based DSV announced in September that it was acquiring Schenker from German national railroad Deutsche Bahn in a deal that would create a combined entity with revenue of $43.5 billion, ranking ahead of current leading global forwarder Kuehne+Nagel of Switzerland, at $28.11 billion. The joint workforce will total around 147,000 employees at 1,850 locations in more than 130 countries.
The acquisition will be officially completed on April 30, DSV said.
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