| 89-801 (2386 words) |
 | SSAB was formed through an asset acquisition, not a merger, and there were no appropriate financial statements for evaluating SSAB's equityworthiness at the time of its formation in 1978. |
| SSAB further contends that the Department's focus on considerations that would motivate a hypothetical U.S. investor to determine whether SSAB was unequityworthy is incorrect. |
| Because SSAB's return on equity continued to be negative and the prospects of the world steel industry remained precarious, we determine that the Government of Sweden's 1981 equity investment in SSAB was not made in accordance with commercial considerations. |
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