CMEC related news today: CMEC signed a deal a while ago with Chiltons and that could be why this deal fell through.
Tuesday October 5, 10:28 am Eastern Time
Autobytel says won't acquire auto repair publisher
WASHINGTON, Oct 5 (Reuters) - Autobytel.com Inc. (NasdaqNM:ABTL
<http://finance.yahoo.com/q?s=abtl&d=t> - news </n/a/abtl.html>), the online automobile dealer, said Tuesday it will not proceed with an already announced deal to acquire W.G. Nichols Inc., publishers of the Chilton line of auto repair manuals.
Autobytel.com did not disclose a reason in a one-sentence filing with the Securities and Exchange Commission, saying only it had notified W.G. Nichols on Oct. 4 that it had ''elected not to proceed with the previously announced acquisition of W.G. Nichols Inc. and a related entity.''
Autobytel was to have acquired the outstanding stock of privately held W.G. Nichols and Marine Information Technology, which publishes watercraft repair manuals, for $13 million in cash and more than 253,000 common shares.
Telephone calls to Autobytel, which is based in Irvine, Calif., and W.G. Nichols, headquartered in West Chester, Pa., were not immediately returned.
Shares of Autobytel closed Monday at 12-1/4 on Nasdaq.
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