M&A - BLACKROCK MUNICIPAL INCOME TRUST

Form Type: 425

Filing Date: 2025-06-09

Corporate Action: Merger

Type: New

Accession Number: 000119312525137855

Filing Summary: On June 9, 2025, BlackRock Advisors, LLC announced that the Boards of Directors/Trustees of several closed-end funds have approved a series of mergers and reorganizations. These reorganizations include: the merger of BlackRock Long-Term Municipal Advantage Trust (BTA) into BlackRock MuniAssets Fund, Inc. (MUA), the merger of BlackRock California Municipal Income Trust (BFZ) into BlackRock MuniHoldings California Quality Fund, Inc. (MUC), and the merger of several funds such as BlackRock New York Municipal Income Trust (BNY) and BlackRock MuniHoldings New York Quality Fund, Inc. (MHN) into BlackRock MuniYield New York Quality Fund, Inc. (MYN). Additionally, a group of funds including BlackRock MuniHoldings Quality Fund II, Inc. (MUE), BlackRock Municipal Income Trust (BFK), BlackRock Municipal Income Quality Trust (BYM), and BlackRock Municipal Income Trust II (BLE) will also merge into BlackRock MuniHoldings Fund, Inc. (MHD). The reorganization of sixteen Municipal Closed-End Funds (CEFs) into six acquiring funds is aimed at delivering substantial scale benefits to shareholders. The shareholder meeting for these mergers is scheduled for October 15, 2025, pending necessary approvals and closing conditions.

Form Type: 425

Filing Date: 2025-01-21

Corporate Action: Merger

Type: New

Accession Number: 000119312525009594

Filing Summary: On January 21, 2025, BlackRock Advisors, LLC announced the approval by the Boards of Directors/Trustees of several closed-end funds for a series of reorganizations. Specifically, BlackRock Municipal Income Trust, along with two other funds, will be reorganized into BlackRock MuniHoldings Fund, Inc. Additionally, two other funds will merge into BlackRock MuniYield Quality Fund, Inc., and BlackRock Long-Term Municipal Advantage Trust will merge into BlackRock MuniAssets Fund, Inc. The expected benefits of these mergers include lower expenses, increased income, a higher after-tax yield, and improved secondary market trading. The reorganizations are subject to approvals from common and preferred shareholders and are slated for completion in the third quarter of 2025. Detailed information regarding these reorganizations will be distributed through a definitive Proxy Statement and Proxy Statement/Prospectus, which have yet to be filed with the SEC. Investors are encouraged to review these documents carefully when they become available to understand the implications of the reorganizations fully.