11:04 AM EST - Algoma Steel : is being acquired by a subsidiary of India-based Essar Global Ltd. in a cash buyout valued at $1.85 billion. The companies said in a joint statement Sunday they had signed an agreement in which Essar will buy all outstanding shares of Algoma for $56 apiece. Algoma Steel
shares T.AGA are trading up $1.97 at $56.09.
