Updated from 11:56 a.m.

Proxicom

(PXCM)

was up 3.9% in midday after

Compaq

(CPQ)

said it was considering raising its $266 million bid for the Internet consulting company, adding it would re-evaluate its position over the next three days.

South African networking services firm

Dimension Data

said today Proxicom intended to terminate the deal with Compaq, announced April 26, in favor of its own offer of $448 million. Dimension Data's offer was announced May 5.