it ib i B ow ater . ▁ ▁In ▁April ▁ 2 0 0 7 , ▁Alg oma ▁Ste el ▁was ▁purchased ▁by ▁India ' s ▁Ess ar ▁Group ▁for ▁US $ 1 . 6 3 ▁billion , ▁continu ing ▁operations ▁as ▁a ▁subs idi ary ▁known ▁as ▁Ess ar ▁Ste el ▁Alg oma ▁Inc . ▁ ▁In ▁May ▁ 2 0 0 7 , ▁a ▁deal ▁to ▁ac quire ▁IP S CO ▁steel ▁( of ▁S ask atch ew an ) ▁for ▁$ 7 . 7 ▁billion ▁was ▁announced ▁by ▁SS AB ▁Swedish ▁Ste el ▁AB . ▁ ▁In ▁ 2 0 0 7 , ▁US ▁Ste el ' s ▁ ▁b n ▁took ▁over ▁the ▁bank rupt ▁St el co ▁works ▁( larg ely ▁in ▁Hamilton ), ▁subsequently ▁id led ▁in ▁ 2 0 1 0 ▁and ▁finally ▁shut down ▁in ▁October ▁ 2 0 1 3 . ▁ ▁In ▁ 2 0 0 7 , ▁the ▁UK ▁T ate ▁& ▁L yle ▁con gl omer ate ▁announced ▁the ▁sale ▁of ▁its ▁Red path ▁Sug ar ▁ref ining ▁business ▁to ▁American ▁Sug ar ▁Ref ining ▁ ▁In ▁June ▁ 2 0 0 7 , ▁the ▁ED ▁Smith ▁In come ▁Fund ▁accepted ▁a ▁take over ▁for ▁ ▁mn ▁from ▁Tree H ouse ▁Food s ▁of ▁Chicago . ▁ ▁In ▁July ▁ 2 0 0 7 , ▁Rio ▁T into ▁acquired ▁Al can ▁Inc ., ▁in ▁a ▁US $ 3 8 ▁billion ▁deal . ▁ ▁Rio ▁T into ▁Al can ▁subsequently ▁div ested