Autobytel.com Calls Off Chilton Deal

Autobytel.com Inc., an Internet automobile-dealer referral service, canceled its planned acquisition of the publisher of Chilton auto-repair manuals after Autobytel.com shares fell, cutting the purchase price 8% to $16 million. Autobytel.com said it called off the stock and cash acquisition in a one-sentence filing with the Securities and Exchange Commission and didn’t specify a reason. The Irvine-based company couldn’t be immediately reached to comment. The company agreed in July to buy closely held West Chester, Pa.-based W.G. Nichols for $13 million in cash and 253,923 shares of its common stock to offer customers a way to price auto repairs. As of Tuesday’s close, Autobytel.com shares have fallen 33% since the purchase was announced, cutting about $1.5 million from the original $17.5 million price. Autobytel.com fell 31 cents to close at $11.94 on Nasdaq. Its shares have declined 70% since the company’s March initial public offering.