Autobytel, autoweb merge in drive for online profits

Article Abstract:

Autobytel.com and Autoweb.com are merging in a move that analysts say may accelerate the departure of their smaller competitors. The two biggest Internet car-buying sites will merge in a tax-free stock swap that analysts value at $15 million. The merger deal is expected to be completed in 3rd qtr 2001. The combined company, which will be called Autobytel, will trade on the Nasdaq exchange under Autobytel's existing stock symbol, ABTL.

Acquisitions & mergers, Organizational history, Videotex & Teletext, Autoweb.com

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On-line car sales sites to issue stock

Article Abstract:

Online car dealers Autobytel.com and Autoweb.com could start to sell their stock at the Nasdaq exchange beginning next week. Both firms are expected to rely on the potentials of online shopping services and its association with historic trading. The risks provided in the prospectuses, and uncertainties concerning their near-term profits, however, could dampen the enthusiasm of investors.

Securities issued, listed, Videotex & Teletext Svcs NEC, Internet services, Online information services

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