(Source: Business Wire)
BlackRock, Inc. today announced that the reorganizations of BlackRock Global Equity Income Trust (NYSE:BFD) and BlackRock World Investment Trust (NYSE:BWC) into BlackRock Global Opportunities Equity Trust (NYSE:BOE) are effective as of the opening for business of the New York Stock Exchange on July 27, 2009.
In the reorganizations, BOE acquired substantially all of the assets and liabilities of BFD and BWC in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares of BOE. BFD and BWC distributed the common shares of BOE to their respective common shareholders in an amount equal to the aggregate net asset value of BFD and BWC common shares, as applicable, as determined at the close of business on July 24, 2009, less the costs of the applicable reorganization (though some BFD and BWC common shareholders received cash for their fractional common shares).
Relevant details pertaining to the reorganizations are as follows:
Fund NAV/Share ($) Conversion Ratio BlackRock Global Opportunities Equity Trust $18.3265 N/A BlackRock Global Equity Income Trust $10.1026 0.55125638 BlackRock World Investment Trust $10.9376 0.59681881 -------------------------------------------------------------------------------
About BlackRock
BlackRock is one of the world's largest publicly traded investment management firms. At June 30, 2009, BlackRock's assets under management were $1.373 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions® investment system, risk management and financial advisory services. The firm is headquartered in New York City and has employees in 21 countries throughout the U.S., Europe and Asia Pacific. For additional information, please visit the firm's website at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or BFD, BWC or BOE (the "Funds") may make, may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the future financial or business performance, strategies or expectations of BlackRock or the Funds.
