UPS announced that it has entered into a definitive agreement to acquire Andlauer Healthcare Group Inc. (TSX: AND) (“AHG”), a leading North American supply chain management company headquartered in Canada and offering customized third-party logistics and specialized cold chain transportation solutions for the healthcare sector. Under the terms of the agreement, AHG shareholders will receive CAD $55.00 per share in cash, representing a total purchase price of approximately CAD $2.2 billion (USD $1.6 billion). This transaction will extend the global portfolio of end-to-end cold chain capabilities available to UPS Healthcare customers, who increasingly seek temperature-controlled and precision logistics solutions. “Next-generation treatments are driving more complexity than ever, expanding the needs of healthcare customers and increasing demand for the integrated, end-to-end cold chain solutions UPS Healthcare provides around the world,” said Kate Gutmann, EVP and president of International, Healthcare and Supply Chain Solutions for UPS.

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Futures dropped as much as 2.8 percent even after U.S. data on Thursday showed the nation’s crude stockpiles dropped by 6.3 million barrels, three times as much as expected. Investors remain doubtful that OPEC-led production cuts will clear a global glut, after Russia ruled out deepening the measures and Saudi Arabia showed less commitment than earlier in the year. “Oil remains volatile, unable to hold onto gains even after strong inventory draws in the U.S.,” said Jan Edelmann, an analyst at HSH Nordbank AG in Hamburg. “While the strong draws are a step in the right direction, multiple weeks of the same are now needed for the rebalancing.” Click Read More below for additional detail.