BlackRock® Canada Announces Voting Results for Proposed Merger
BlackRock Asset Management Canada Limited (“BlackRock
”), an indirect, wholly-owned subsidiary of
BlackRock, Inc. (“BlackRock
”) (NYSE: BLK), is
pleased to announce that at a special meeting held today,
unitholders approved the proposal to merge (the
”) the iShares U.S. High Yield Fixed Income
Index ETF (CAD-Hedged) (“Merging ETF
”) into the
iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (the
The Merging ETF will be wound down following
completion of the Merger. Unitholders of the Merging ETF will
receive full units of the Continuing ETF based on the Continuing
ETF’s net asset value per unit, and cash in lieu of fractional
BlackRock Canada expects that the Merger will be
implemented on or about March 27, 2023. The last day of trading of
the Merging ETF will be March 24, 2023.
The Merger is expected to take place on a
taxable basis, and for tax purposes, will generally be treated as a
disposition of the property and units of the Merging ETF.
The Merging ETF and Continuing ETF have
substantially similar underlying investment exposure. In addition,
the Continuing ETF has greater secondary market liquidity, measured
by average spreads and volumes, to that of the Merging ETF.
BlackRock Canada continually reviews its product
range to ensure it meets the evolving needs ofour clients. The
priorities and needs of Canadian investors are key as Blackrock
Canada evolves its ETF lineup to provide investor choice.
For more information about the Merging ETF and
Continuing ETF, please visit www.blackrock.com/ca.
BlackRock’s purpose is to help more and more
people experience financial well-being. As a fiduciary to investors
and a leading provider of financial technology, we help millions of
people build savings that serve them throughout their lives by
making investing easier and more affordable. For additional
information on BlackRock, please visit
iShares unlocks opportunity across markets to
meet the evolving needs of investors. With more than twenty years
of experience, a global line-up of 1300+ exchange traded funds
(ETFs) and US$2.91 trillion in assets under management as of
December 31, 2022, iShares continues to drive progress for the
financial industry. iShares funds are powered by the expert
portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset
Management Canada Limited.
Commissions, trailing commissions, management
fees and expenses all may be associated with investing in iShares
ETFs. Please read the relevant prospectus before investing. The
funds are not guaranteed, their values change frequently and past
performance may not be repeated. Tax, investment and all other
decisions should be made, as appropriate, only with guidance from a
Contact for Media: Reem Jazar
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