Monday, April 27, 2009

Trilogy Rejected In Autobytel Buyout Offer

Austin-based Trilogy has been rebuffed in an offer to buy out automotive leads and web information provider Autobytel, according to a letter released by Autobytel's board this afternoon. According to the letter, Autobytel's board is rejecting Trilogy's offer to buy Autobytel for $0.35 per share, calling the offer "grossly inadequate." Trilogy offered to buy Autobytel on April 21st.