The strong earnings, combined with talk of a possible takeover, have sent 360's shares up about 76.5 percent this year.

But it was not to talk about a possible takeover, according to executives.

That is likely to increase speculation of a possible takeover, analysts said.

Sterling also said it was negotiating with several other companies for a possible takeover.

On Wednesday the company said it had been approached about a possible takeover.

Putting more shares in the company's hands could help defend against a possible takeover.

Earlier the stock had gained on rumors of a possible takeover.

Last year, the state began steps toward a possible takeover of the district, despite bitter opposition from system officials.

However, there are others that felt the power vacuum would lead to instability and a possible military takeover.

The stock began to rise before a May 5, 1993, announcement of a possible takeover.