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

To: Jeff Briley who wrote (1945)	1/28/1998 9:40:00 PM
From: Curtis Gruber	Respond to of 5650

<<<U.S. Internetworking had hoped to scuttle the IXC deal, but Chief Executive Officer Chris McCleary said he still wants to buy PSINet for as much as $15 per share in a possible stock-cash combination. So far, PSINet CEO William Schrader has expressed little interest in negotiating with USI. >>>>> If Schrader doesn't take $15/share he is foolish. 600 million is what BBN went for, and right now 600 million is generous for PSIX. A year from now maybe not, but that's what people were saying a year ago, and look at the stock price now. Whether Usi makes another offer remains to be seen, but evidently there are not a lot out there that think it's gonna happen since price is no where near even $10, the original bid. regards, cg