BlackRock Advisors announced the reorganization of BlackRock MuniHoldings Investment Quality Fund (NYSE: MFL) with BlackRock Municipal Income Fund (NYSE: MUI), effective April 11, 2022. MFL common shareholders received MUI shares equal to their holdings' net asset value as of April 8, 2022. Cash was distributed for fractional MUI shares. MFL preferred shareholders received MUI preferred shares based on their liquidation preference. This consolidation aims to streamline operations and enhance shareholder value.
BlackRock Advisors has announced a special distribution for BlackRock MuniHoldings Investment Quality Fund (MFL) and an early distribution for BlackRock Municipal Income Fund (MUI) as part of MFL's reorganization into MUI. The one-time special distribution for MFL, equating to $0.050 per share, will be paid on May 2, 2022, with an ex-dividend date of April 6, 2022. Simultaneously, MUI will pay an early distribution of $0.054 per share on the same date. All shares of MFL will cease trading on the NYSE as of April 8, 2022.
BlackRock Advisors announced the approval of the reorganization of BlackRock MuniHoldings Investment Quality Fund (MFL) into BlackRock Municipal Income Fund, Inc. (MUI). Shareholders of MFL will exchange their Variable Rate Muni Term Preferred Shares for Variable Rate Demand Preferred Shares of MUI on a one-for-one basis. The reorganization is expected to complete in Q2 2022, contingent on customary closing conditions. This merger aims to streamline operations and potentially enhance shareholder value.
BlackRock Advisors announced the results of a special shareholder meeting regarding the reorganization of BlackRock MuniHoldings Investment Quality Fund (NYSE: MFL) into BlackRock Municipal Income Fund, Inc. (NYSE: MUI). While MUI's shareholders approved the reorganization, MFL did not achieve the necessary votes from its common shareholders. As a result, the meeting for MFL has been adjourned to March 4, 2022, at 10:30 a.m. ET to continue soliciting proxies. The reorganization will only proceed if MFL secures the requisite approval from its shareholders.
BlackRock Advisors, LLC announced the reorganization of the BlackRock MuniHoldings Investment Quality Fund (NYSE: MFL) into the BlackRock Muni Intermediate Duration Fund, Inc. (NYSE: MUI), which will be renamed as BlackRock Municipal Income Fund, Inc. on October 1, 2021. The restructuring is anticipated to conclude in the first half of 2022, pending shareholder approvals and customary closing conditions. Detailed information about the reorganization will be available in an upcoming Proxy Statement to be filed with the SEC.