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In order to win DB Schenker, Maersk has made another move
Mar 14, 2024|
View:120In recent days Maersk, the world's second-largest container shipping line, has hired advisers for a bid for DB Schenker.
According to Danish business daily Børsen, Maersk hired consultants to help study a possible bid for DB Schenker.
Maersk Chief Executive Vincent Clerc told business daily Børsen that DB Schenker had been put up for sale and was expected to sell for more than €13 billion ($14.2 billion), so a takeover of this size would be a risk for Maersk because of the relatively cyclical nature of the shipping business.
Mr. Clerc said he was not sure at this point whether a partnership between Deutsche Schenker and Maersk would work, but that advisers would now review the matter.
Mr. Clerc added that there was little overlap between the company's shipping business, which makes up the bulk of Maersk's business, and freight forwarders like DB Schenker.
In addition, he pointed to rival CMA CGM's acquisition of Ceva Logistics as a possible source of inspiration.
It is understood that last week, DHL chief executive Tobias Meyer announced that DHL had withdrawn from the bidding for DB Schenker. In the days before DHL announced that it was dropping its bid, Kuehne+Nagel expressed the same attitude!
Maersk first expressed interest in buying German freight forwarder DB Schenker on an investor call following its 2023 earnings report, when Chief Executive Vincent Clerc said "it's not necessarily the most likely outcome, but it's something we need to look into".
In addition to Maersk, another Danish logistics giant, DSV, is also interested in acquiring Deutsche Bahn Schenker, and DSV has been considered the most likely to buy the company, DSV has hired investment banks to help bid.
If DB Schenker is bought by DSV or Maersk, it would be the biggest takeover in Danish history.
