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USA Truck’s business model does not fit DSV’s vision for asset-light North American on-road operations, the company said in a report accompanying the most recent quarter’s results.

The Danish transport company sold a six-part bond deal with maturities ranging from two to 10 years, according to a person familiar with the matter.

Danish transport company DSV will start a large bond sale as soon as this year to help pay for its $15.4 billion takeover of DB Schenker ahead of an expected completion in 2025.

DSV received commitments from investors for more than half of a $5.5 billion sale of new shares as the Danish freight-forwarding company finances its takeover of DB Schenker.

DSV won approval to buy Deutsche Bahn’s logistics unit for $15.8 billion, overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.

Deutsche Bahn AG’s planned 4.3 billion-euro ($15.8 billion) sale of its logistics arm is facing a decisive vote Oct. 2.

Deutsche Bahn said bids submitted by private equity fund CVC Capital Partners remain “inferior” to the winner’s offer, the latest twist in the $16 billion battle for its logistics unit.

CVC Capital Partners signaled it’s willing to increase its 14 billion-euro ($15.6 billion) offer for Deutsche Bahn AG’s logistics unit after losing the bidding to Danish company DSV A/S.

A high-powered coalition is spearheading efforts to electrify the Interstate 10 trucking corridor.

DSV, founded by 10 Danish truckers in the 1970s, has grown through a string of acquisitions in the fragmented transport industry, including buying targets that were larger than itself.