The spate of buyouts targeting logistics companies on SGX has continued with the latest target - Cogent Holdings. Cogent received a buyout offer from COSCO shipping, another company listed on SGX. Interested investors can read more about the buyout offer here. Investors would normally thank their lucky stars upon buyout offers as these offers often represent a significant premium over the target company's most recent share price. Unfortunately, I cannot say the same for myself as Cogent's offer packs only a miserly premium. A comparison with other logistics buyout offer this year illustrates the point. Cogent's offer is by far the smallest premium over the firms' 1 month volume-weighted average price (VWAP): This is a double whammy as Cogent has consistently provided the best returns among these 4 logistics companies being bought out: While the motivations of COSCO shipping are clear, I struggle to comprehend the Tan family's decision ......