21.   Dalgety had warned investors that the pet food acquisition and the related rights issue would dilute earnings.

22.   Ebbers has said the company does not need a wireless service in order to thrive in the communications marketplace and that acquiring a wireless carrier could overly dilute earnings.

23.   Elliott said in a statement that the merger would allow his company to become a leading provider of long-term care but would not dilute earnings.

24.   Federated said that it expected the deal to dilute earnings in the next year or two.

25.   For Broderbund to win, it must do so at the risk of raising its bid too high and diluting its earnings.

26.   For investors in Lincoln, the transaction could dilute earnings per share until the company finds a new business to purchase that will make up the lost revenue.

27.   If banks issue enough new shares they could significantly dilute the earnings per share of the entire market and dampen investor confidence.

28.   In addition, several businesses are expected to be sold off, further diluting earnings.

29.   In the past, investors would punish an acquiring company for diluting earnings.

30.   Investors have not reacted enthusiastically partly because Motorola says the deal will dilute earnings in the first year before bolstering them in later years.