Sure, here is a more detailed paraphrasing of the text:BlackRock has announced that it expects to finalize its previously announced acquisition of Global Infrastructure Partners (GIP) on October 1, 2024, pending regulatory approvals and other customary closing conditions.

According to the transaction agreement for the GIP Transaction, BlackRock will acquire GIP by first executing a merger in accordance with Section 251(g) of the Delaware General Corporation Law.

A direct wholly-owned subsidiary of BlackRock Funding, Inc.

(New BlackRock), which is itself a wholly-owned subsidiary of BlackRock, will merge with and into BlackRock.

BlackRock will survive the merger as a direct wholly-owned subsidiary of New BlackRock.

Existing shares of BlackRock common stock will be automatically converted on a one-for-one basis into shares of common stock of New BlackRock, which will become the publicly listed company under the name 'BlackRock, Inc.

' and will acquire all of the issued and outstanding limited liability company interests of GIP.

New BlackRock will retain the ticker symbol 'BLK,' and trading will continue uninterrupted on the New York Stock Exchange (NYSE).

The Board and executive officers of BlackRock will continue in their same roles at New BlackRock following the merger.

In connection with the closing of the GIP Transaction, BlackRock has also notified the NYSE of its intention to voluntarily delist from the NYSE and deregister its Euro-denominated 1.

250% Notes due 2025 (the 2025 Notes).

BlackRock's decision to withdraw the 2025 Notes from listing on the NYSE and registration under the Securities Exchange Act of 1934 (the Exchange Act) was based on its decision to make BlackRock a wholly-owned subsidiary of New BlackRock and to delist BlackRock's common stock from the NYSE and withdraw registration of BlackRock's common stock under the Exchange Act.

The 2025 Notes will remain outstanding, and BlackRock has applied for admission of the 2025 Notes to the Official List of The International Stock Exchange (TISE) to be effective following the closing of the GIP Transaction.

To delist the 2025 Notes from the NYSE, BlackRock will file a Notification of Removal from Listing on Form 25 relating to the delisting on or about September 23, 2024 (the Form 25) with the Securities and Exchange Commission (SEC).

The delisting will be effective on the 10th day following the filing of the Form 25, and the 2025 Notes will no longer trade on the NYSE effective on that date.

BlackRock reserves the right to delay the filing of the Form 25 for any reason, including, without limitation, in the event that the GIP Transaction is delayed or is not completed for any reason.