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BlackRock extends Merrill pact by 4 years: Fink

BOSTON
Thu Jul 17, 2008 1:06pm EDT

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BOSTON (Reuters) - U.S. asset manager BlackRock Inc (BLK.N) has extended its global distribution agreement with Merrill Lynch & Co MER.N for four years beyond 2009, BlackRock chief executive Laurence Fink said on Thursday.

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"We have agreed to extend our global distribution agreement with Merrill for four more years," Fink told an earnings conference call of the company. Fink said the agreement was originally set to expire in September 2009.

Earlier, BlackRock said Merrill has decided not to sell its 49.8 percent stake in BlackRock.

(Reporting by Muralikumar Anantharaman, editing by Gerald E. McCormick)
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