United States:
Blackrock Advisors Closes Reorganization Of Two Municipal Closed-End Funds
25 May 2016
Kramer Levin Naftalis & Frankel LLP
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BlackRock Advisors closed the reorganization of BlackRock
Municipal Bond Investment Trust (BIE) with and into BlackRock
Municipal Income Investment Trust (BBF). Under the reorganization,
BIE common shareholders received an amount of BBF common stock
equal to the total net asset value of their holdings of BIE common
stock. Fractional shares of BBF common stock weren't issued
and, as a result, cash will be distributed for any such fractional
amounts.
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