BlackRock Advisors, LLC announced today that the Board of
Trustees of each of BlackRock Municipal Bond Investment Trust
(NYSE:BIE) and BlackRock Municipal Income Investment Trust
(NYSE:BBF) (each a “Fund” and together, the “Funds”) approved the
reorganization of BIE into BBF, with BBF being the surviving Fund
(the “Reorganization”).
It is currently expected that the Reorganization will be
completed in the first half of 2016, subject to required
shareholder approvals and the satisfaction of applicable regulatory
requirements and other customary closing conditions.
Additional Information about the Reorganization and Where to
Find It
This press release is not intended to, and does not constitute
an offer to purchase or sell shares of the Funds nor is this press
release intended to solicit a proxy from any shareholder of any of
the Funds. The solicitation of the purchase or sale of securities
or of proxies to effect the Reorganization will only be made by
either a definitive Proxy Statement or a definitive Proxy
Statement/Prospectus.
This press release references a Proxy Statement and a Proxy
Statement/Prospectus, to be filed by the Funds. The Proxy Statement
and the Proxy Statement/Prospectus have yet to be filed with the
U.S. Securities and Exchange Commission (the “SEC”). After the
Proxy Statement and the Proxy Statement/Prospectus are filed with
the SEC, each may be amended or withdrawn. The Proxy
Statement/Prospectus will not be distributed to shareholders of the
Funds unless and until a Registration Statement comprising of the
Proxy Statement/Prospectus is declared effective by the SEC.
The Funds and their respective trustees, officers and employees,
and BlackRock, and its shareholders, officers and employees and
other persons may be deemed to be participants in the solicitation
of proxies with respect to the Reorganization. Investors and
shareholders may obtain more detailed information regarding the
direct and indirect interests of the Funds' respective trustees,
officers and employees, and BlackRock and its shareholders,
officers and employees and other persons by reading the Proxy
Statement and the Proxy Statement/Prospectus when they are filed
with the SEC.
INVESTORS AND SECURITY HOLDERS OF THE FUNDS ARE URGED TO READ
THE PROXY STATEMENT AND THE PROXY STATEMENT/PROSPECTUS AND OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN
THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE REORGANIZATION. INVESTORS SHOULD
CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF
THE FUNDS CAREFULLY. THE PROXY STATEMENT AND THE PROXY
STATEMENT/PROSPECTUS WILL CONTAIN INFORMATION WITH RESPECT TO THE
INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE
FUNDS.
The Proxy Statement and the Proxy Statement/Prospectus will not
constitute an offer to buy or sell securities, in any state where
such offer or sale is not permitted.
Security holders may obtain free copies (when they become
available) of the Proxy Statement, the Proxy Statement/Prospectus
and other documents filed with the SEC at the SEC's web site at
www.sec.gov. In addition, free copies (when they become
available) of the Proxy Statement, the Proxy Statement/Prospectus
and other documents filed with the SEC may also be obtained by
directing a request to BlackRock at (800) 882-0052.
About BlackRock
BlackRock is a global leader in investment management, risk
management and advisory services for institutional and retail
clients. At September 30, 2015, BlackRock’s AUM was $4.506
trillion. BlackRock helps clients around the world meet their goals
and overcome challenges with a range of products that include
separate accounts, mutual funds, iShares® (exchange-traded funds),
and other pooled investment vehicles. BlackRock also offers risk
management, advisory and enterprise investment system services to a
broad base of institutional investors through BlackRock Solutions®.
As of September 30, 2015, the firm had approximately 12,900
employees in more than 30 countries and a major presence in key
global markets, including North and South America, Europe, Asia,
Australia and the Middle East and Africa. For additional
information, please visit the Company’s website at
www.blackrock.com | Twitter: @blackrock_news | Blog:
www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Funds on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
Funds. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Funds and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to a Fund’s or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Funds or
in a Fund’s net asset value; (2) the relative and absolute
investment performance of a Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to a Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the Funds. The information
contained on BlackRock’s website is not a part of this press
release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151218005911/en/
BlackRock Closed-End Funds1-800-882-0052
Blackrock Municipal Bond Investment Trust (NYSE:BIE)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Blackrock Municipal Bond Investment Trust (NYSE:BIE)
Historical Stock Chart
Von Dez 2023 bis Dez 2024