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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: david thor who wrote (1867)	1/23/1998 12:44:00 PM
From: Rubber Man	Read Replies (1) \| Respond to of 5650

Something is going to leak and the price will reflect that soon enough- hopefully it'll be up. As for chances of IIXC being targeted- their shares have risen since Dec (when there was other rumors), plus their share volume is pretty low- unless someone is really patient I can't see them being targeted for anything at the moment. If the deal goes through they'll gain control of 20% of PSIX, would they be any more/less attractive then?

To: david thor who wrote (1867)	1/23/1998 12:46:00 PM
From: bob zagorin	Respond to of 5650

one thing i do know is that at least some psix staff people are very optimistic about what the IXC deal will accomplish for their cost structure and they believe that much of this will fall to the bottom line. they just don't think wall street has taken the time to really look at how this deal with affect psi's cash flow and earnings. maybe this abortive takeout will redirect some attention to those financials.

To: david thor who wrote (1867)	1/23/1998 12:50:00 PM
From: Sandie	Read Replies (1) \| Respond to of 5650

Second-hand report from a friend who attended today's meeting: The meeting started with Schrader basically asking "are there any questions before we vote?" so really no heated debate, pro forma all the way. The shareholders are always remarkably subdued at the PSINet meetings I have attended in the past. Apparently, this meeting was no exception. McCleary didn't even show up...he's seeming flakier all the time. Who knows, maybe he sold into his own hype. I sold my shares this morinig at 8 3/8..should have sold yesterday, but hey. I predict gradual drifting downwards over the next few days and weeks with a chance at $10 if earnings surprise to the upside. I might go back in if I get a shot at $6...