BlackRock Advisors, LLC announced today that the Board of
Directors of BlackRock Muni New York Intermediate Duration Fund,
Inc. (NYSE:MNE), a closed-end fund, and the Board of Trustees of
BlackRock Multi-State Municipal Series Trust (“Multi-State
Municipal Series Trust”) approved the merger of MNE into BlackRock
New York Municipal Opportunities Fund (“NYMO”), an open-end mutual
fund and a series of Multi-State Municipal Series Trust, with NYMO
being the surviving Fund (the “Merger”).
It is currently expected that the Merger will be completed in
the first half of 2020 subject to approval by MNE shareholders, the
satisfaction of customary closing conditions and the prior
redemption of all of MNE’s outstanding variable rate demand
preferred shares.
Additional Information about the Merger 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 Merger 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the SEC, each may be amended or withdrawn.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 directors/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 Merger. Investors and
shareholders may obtain more detailed information regarding the
direct and indirect interests of the Funds' respective
directors/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 MERGER. 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 helps investors build better financial futures. As a
fiduciary to investors and a leading provider of financial
technology, our clients turn to us for the solutions they need when
planning for their most important goals. As of September 30, 2019,
the firm managed approximately $6.96 trillion in assets on behalf
of investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com | Twitter: @blackrock | Blog:
www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
BlackRock closed-end 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 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 the Funds’ net asset value; (2) the relative and absolute
investment performance of the Funds 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 the Funds 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191219005828/en/
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