360networks withdraws plans to acquire NetRail
"360networks today announced it no longer intends to acquire NetRail, a wholesale Internet service provider, in an all-stock transaction. The company announced plans to acquire NetRail earlier this year." Per the announcement they just sent via e-mail. Looks to be posted on <URL:http://www.360.net/> as well. -jr ---- Josh Richards <jrichard@{ geekresearch.com, cubicle.net }> [JTR38/JR539-ARIN] Geek Research, LLC - San Luis Obispo, CA - <URL:http://www.geekresearch.com/> KG6CYK - IP/Unix/telecom/knowledge/coffee/security/crypto/business/geek
On Mon, Jun 18, 2001 at 11:39:57AM -0700, Josh Richards wrote:
"360networks today announced it no longer intends to acquire NetRail, a wholesale Internet service provider, in an all-stock transaction. The company announced plans to acquire NetRail earlier this year."
Per the announcement they just sent via e-mail. Looks to be posted on <URL:http://www.360.net/> as well.
This appears to be a very good thing for NetRail. Also from www.360.net: "360networks announced it will not make a US $10.9 million interest payment due today on its 12.5% Senior Notes. Under the terms of the debt, 360networks has another 30 days to make the payment in order to avoid default consequences under the Notes." --msa
On Mon, 18 Jun 2001, Josh Richards wrote:
"360networks today announced it no longer intends to acquire NetRail, a wholesale Internet service provider, in an all-stock transaction. The company announced plans to acquire NetRail earlier this year."
On Wed, 21 Feb 2001, David Diaz wrote:
As far as this deal going Im sure that 360 got a hell of a head start on an IP network by their purchase and Netrail found a good home. Nice to see happy endings on the net.
My hats off to the Netrail team. Especial congrats to Nathan E, Mark, Keith and Brandon. I also hope Scott P never decides to flame me on a lis, apparently he has a talent. I hope you all are getting 360network Porsches.
Wow, how things change, hope you guys did not buy the Porsches just yet. P.S. Sorry, I have been waiting 4 months to say that. ;-) As Founder of NetRail it is nice to see that the unethical people that took the company from me are not going to get a dime more then the $0 they paid me for the company. -Nathan
Nathan's lack of bitterness is indicative of his high level of personal maturity. Oh, wait.... - Daniel Golding
-----Original Message----- From: owner-nanog@merit.edu [mailto:owner-nanog@merit.edu]On Behalf Of Nathan Stratton Sent: Monday, June 18, 2001 7:58 PM To: Josh Richards Cc: nanog@merit.edu Subject: Re: 360networks withdraws plans to acquire NetRail
On Mon, 18 Jun 2001, Josh Richards wrote:
"360networks today announced it no longer intends to acquire NetRail, a wholesale Internet service provider, in an all-stock transaction. The company announced plans to acquire NetRail earlier this year."
On Wed, 21 Feb 2001, David Diaz wrote:
As far as this deal going Im sure that 360 got a hell of a head start on an IP network by their purchase and Netrail found a good home. Nice to see happy endings on the net.
My hats off to the Netrail team. Especial congrats to Nathan E, Mark, Keith and Brandon. I also hope Scott P never decides to flame me on a lis, apparently he has a talent. I hope you all are getting 360network Porsches.
Wow, how things change, hope you guys did not buy the Porsches just yet.
P.S. Sorry, I have been waiting 4 months to say that. ;-) As Founder of NetRail it is nice to see that the unethical people that took the company from me are not going to get a dime more then the $0 they paid me for the company.
-Nathan
participants (4)
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Daniel Golding -
Josh Richards -
Majdi S. Abbas -
Nathan Stratton