BlackRock Advisors, LLC today announced that the reorganization of each of BlackRock Equity Dividend Trust (formerly NYSE:BDV) and BlackRock Strategic Equity Dividend Trust (formerly NYSE:BDT) with and into BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) (collectively, the “Reorganizations”) is effective as of the opening for business of the New York Stock Exchange on February 27, 2012.
In the Reorganizations, BDJ acquired substantially all of the assets and liabilities of BDV and BDT, respectively, each in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares of BDJ. Common shareholders of BDV and BDT, respectively, received an amount of BDJ common shares equal to the aggregate net asset value of their holdings of BDV and/or BDT common shares, as applicable, as determined at the close of business on February 24, 2012. Fractional BDJ shares were not issued in the Reorganizations and consequently cash will be distributed for any such fractional amounts.
Relevant details pertaining to the Reorganizations are as follows:
|Fund||NAV/Share ($)||Conversion Ratio|
|BlackRock Enhanced Equity Dividend Trust (BDJ)||$8.4561||N/A|
|BlackRock Equity Dividend Trust (BDV)||$10.8103||1.27840257|
|BlackRock Strategic Equity Dividend Trust (BDT)||$11.9347||1.41137167|
About BlackRockBlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2011, BlackRock’s AUM was $3.513 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including 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 December 31, 2011, the firm has approximately 10,100 employees in 27 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. Forward-Looking Statements This press release, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to 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.
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