Logistics operators Panalpina and Agility Group have announced they are in strategic discussions. That follows comments from Panalpina Stefan Karlen that the firm can “grow organically and inorganically” following an unsolicited – and recently raised – offer for Panalpina from DSV. A deal between Panalpina and Agility would be a merger of equals given Agility’s enterprise value is 118% that of Panalpina and its revenues are 98.3% of Panalpina’s. Concluding such a deal would be time consuming however and would give DSV time to respond and for Panalpina to consider other options. One such ...