BlackRock Advisors, LLC announced today that the Boards of
Trustees of each of BlackRock Equity Dividend Trust (NYSE:BDV),
BlackRock Strategic Equity Dividend Trust (NYSE:BDT) and BlackRock
Enhanced Equity Dividend Trust (NYSE:BDJ) approved the
reorganization of BDV and BDT into BDJ, with BDJ being the
surviving fund (the “Reorganizations”).
It is currently expected that the Reorganizations will be
completed in the first quarter of 2012, subject to requisite
shareholder approvals and all regulatory requirements and customary
closing conditions being satisfied.
Additional Information about the Proposed Reorganizations and
Where to Find It
This press release is not intended to, and shall 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. The solicitation of the purchase or sale of
securities or of proxies to effect each reorganization may only be
made by a final, effective Registration Statement, which includes a
definitive Joint Proxy Statement/Prospectus, after the Registration
Statement is declared effective by the Securities and Exchange
Commission (“SEC”).
This press release references a Registration Statement, which
includes a Joint Proxy Statement/Prospectus, to be filed by the
funds. This Registration Statement has yet to be filed with the
SEC. After the Registration Statement is filed with the SEC, it may
be amended or withdrawn and the Joint Proxy Statement/Prospectus
will not be distributed to shareholders of the funds unless and
until the Registration Statement 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 these proposed reorganizations.
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 Joint Proxy Statement/Prospectus regarding the proposed
reorganizations when it is filed with the SEC.
INVESTORS AND SECURITY HOLDERS OF THE FUNDS ARE URGED TO READ
THE JOINT PROXY STATEMENT/PROSPECTUSES AND OTHER DOCUMENTS FILED
WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
REORGANIZATIONS. INVESTORS SHOULD CONSIDER THE INVESTMENT
OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUNDS CAREFULLY. THE
JOINT PROXY STATEMENT/PROSPECTUSES WILL CONTAIN INFORMATION WITH
RESPECT TO THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES
OF THE FUNDS AND OTHER IMPORTANT INFORMATION ABOUT THE FUNDS. The
Joint Proxy Statement/Prospectus will constitute neither an offer
to sell securities, nor will it constitute a solicitation of an
offer to buy securities, in any state where such offer or sale is
not permitted.
Investors may obtain free copies of the Registration Statement
and Joint Proxy Statement/Prospectus and other documents (when they
become available) filed with the SEC at the SEC's web site at
www.sec.gov. In addition, free copies of each Joint Proxy
Statement/Prospectus and other documents filed with the SEC may
also be obtained after each Registration Statement becomes
effective by directing a request to BlackRock at (800)
882-0052.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At June 30, 2011, BlackRock’s AUM was $3.659 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 June 30, 2011, the firm has approximately 9,700
employees in 26 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 firm’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.
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 fund or in
the fund’s net asset value; (2) the relative and absolute
investment performance of the 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 recently approved
Dodd-Frank Wall Street Reform and Consumer Protection Act, and
regulatory, supervisory or enforcement actions of government
agencies relating to the 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) BlackRock’s success in maintaining
secondary market support for the fund; (11) the impact of BlackRock
electing to provide support to its products from time to time; (12)
the impact of problems at other financial institutions or the
failure or negative performance of products at other financial
institutions; and (13) the ability of BlackRock to integrate the
operations of Barclays Global Investors.
The Annual and Semi-Annual Reports and other regulatory filings
of the 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 fund. The information
contained on our website is not a part of this press release.
Blackrock Strategic Equity Dividend Trust (NYSE:BDT)
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