BlackRock Advisors, LLC announced today that, at a special meeting of
shareholders of BlackRock Income Trust, Inc. (NYSE:BKT), BlackRock
Income Opportunity Trust, Inc. (NYSE:BNA) and BlackRock Core Bond Trust
(NYSE:BHK) (collectively, the “Funds”), shareholders of BNA and BHK have
approved the reorganization of BNA with and into BHK, with BHK
continuing as the surviving Fund (the “Reorganization”). The
reorganization of BKT with and into BHK did not receive sufficient
favorable votes at the special shareholder meeting, and was consequently
not approved by shareholders.
It is currently expected that the Reorganization will be effective with
the open for business of the New York Stock Exchange on November 10,
2014, subject to all regulatory requirements and customary closing
conditions being satisfied. The Reorganization, if completed, would
occur based on the relative net asset values of BNA and BHK.
This press release is not intended to, and does not, constitute an offer
to purchase or sell shares of any of the Funds; nor is this press
release intended to solicit a proxy from any shareholder of any of the
Funds.
About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
June 30, 2014, BlackRock’s assets under management were $4.594
trillion. BlackRock helps clients 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®. Headquartered
in New York City, as of June 30, 2014, the firm had approximately 11,600
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 BlackRock’s website at www.blackrock.com
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Forward-Looking Statements
This press release, and other statements that BlackRock or the Funds may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to the Funds 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 a Fund
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.
Copyright Business Wire 2014