1.   Also, they rely heavily on mortgage lending, where low margins would probably dilute the earnings of an acquiring bank.

2.   Analysts predicted that paying off the acquisition will dilute McClatchy earnings for several years.

3.   Analysts are divided about whether Service Corp. will deviate from its previous acquisition strategy and make an offer for Loewen that would dilute its earnings.

4.   And no deal that might dilute earnings could be contemplated.

5.   Another question weighing on the stock is whether the merger will dilute earnings.

6.   As British Telecommunications PLC demonstrated with its attempted takeover of the MCI Communications Corp., foreign companies can be especially skittish about American acquisitions diluting earnings.

7.   As stocks decline, acquirers have to give more shares to sellers, diluting earnings of the combined company.

8.   As stocks fall, acquirers have to give more shares to sellers, diluting earnings of the combined company.

9.   BellSouth has in the past been reluctant to make investments that would dilute earnings.

10.   A company spokesman said the transaction may dilute earnings slightly for one or two quarters after the acquisition, but will add to earnings afterwards.