Autobytel (ABTL) Sends Letter To Shareholders Asking to Reject Trilogy's Offer
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Autobytel Inc. (Nasdaq: ABTL) filed the following letter with the Securities and Exchange Commission in connection with receiving an unsolicited tender offer for the company's shares:
On Monday, April 20, 2009, I received a letter from Trilogy Enterprises, Inc. ("Trilogy") indicating that Trilogy had launched a tender offer for all of Autobytel Inc.'s outstanding shares of common stock at $0.35 per share.
Our Board of Directors, in consultation with its legal and financial advisors, has evaluated Trilogy's offer and has found Trilogy's $0.35 offer price to be grossly inadequate and unequivocally recommends to stockholders that they reject Trilogy's offer and not tender their shares to Trilogy....
Based upon the above, our Board recommends that you reject Trilogy's offer and not tender your shares of common stock for purchase by Trilogy. [SM]
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