BlackRock seeks shareholder OK to reorganize six high-yield funds

By Toni Weeks

San Luis Obispo, Calif., June 27 - The board of directors/trustees of several BlackRock high-yield funds have approved the reorganization of five of the funds into a sixth fund.

According to a press release from BlackRock Advisors, LLC, the BlackRock High Yield Trust, BlackRock Corporate High Yield Fund, Inc., BlackRock Corporate High Yield Fund III, Inc., BlackRock High Income Shares and BlackRock Corporate High Yield Fund V, Inc. plan to merge into BlackRock Corporate High Yield Fund VI, Inc.

The reorganization is expected to be completed in late 2013, subject to shareholder approval and the satisfaction of applicable regulatory requirements and other customary closing conditions.

Approval of each fund's reorganization is not contingent upon approval of any other reorganization.

BlackRock Advisors is a private investment manager based in Wilmington, Del.

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