to create value, they would surely be interested in it. 1 Lois Therrien, Patrick Oster
to create value, they
would surely be interested in it.
1 Lois Therrien, Patrick Oster, and Chuck Hawkins, “How Sweet It Isn’t At Nutra-
Sweet,” Business Week (December 14, 1992), p. 42.2 Monsanto sold its sweetener division in 2000.
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Strategy and Financial Planning 937
Now suppose that the firm’s competitors face no barriers to buying the
equipment and exploiting its benefits. What will happen? The firm and its
competitors will compete for the equipment, bidding up its price. When
does it all end? When the net present value of the equipment is zero.