"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
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
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