As part of the two companies' gradual hand-over process, BlackRock is asking shareholders to O.K. a major sweep of mergers with funds from Merrill Lynch. The sale of Merrill Lynch's investment management unit to BlackRock hit the headlines in February.

Dow Jones Newswires spotted BlackRock's recent SEC filing outlining the proposed consolidation, which is slated for the fourth quarter and notably includes uniting Merrill's $239.8 million Merrill Lynch U.S. High Yield Fund with the $933 million BlackRock High Yield Bond Portfolio.  

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