max() (and min()) on DateTime objects compares them like dates (with timezone info) and returns DateTime object.
<?php
$dt1 = new DateTime('2014-05-07 18:53', new DateTimeZone('Europe/Kiev'));
$dt2 = new DateTime('2014-05-07 16:53', new DateTimeZone('UTC'));
echo max($dt1,$dt2)->format(DateTime::RFC3339) . PHP_EOL; // 2014-05-07T16:53:00+00:00
echo min($dt1,$dt2)->format(DateTime::RFC3339) . PHP_EOL; // 2014-05-07T18:53:00+03:00
?>
It works at least 5.3.3-7+squeeze17