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How to enter Blackrock Inc to Blackrock Finance Inc Merger

larryvc

On 10/2/2024 Blackrock Inc became Blackrock Finance Inc after the Blackrock Inc merger with Global Infrastructure Partners. The symbol remained BLK but the cusip changed from 09247X101 to 09290D101.

What would be the most correct way to enter this into the register?

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larryvc

Well, I figured it out as today a One Step Update from Schwab provided a security named BLACKROCK INC NEW that I accepted as a new security. Then I entered a Corporate Aquisition (stock for stock), Number of shares 1, and the 10/2/2024 closing price of $975.25. Quicken removed the old Blackrock Inc shares and added the shares of BLACKROCK INC NEW. I then changed the name of the security to Blackrock Finance Inc.

All is as it should be, hope this explanation helps others.

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larryvc

All is as it should be, hope this explanation helps others.

q_lurker

Nothing particularly wrong with that approach.

Another option, for reference, is to unmatch the original BLK from being matched to an online security (Edit security details). When the download from the brokerage then offers the new BLK with the new CUSIP, match that to the original. That avoids the need for the Corporate Acquisition. Any Remove Shares or Add Shares from the download would be deleted (not accepted or ignored).

Strictly speaking, your procedure is more rigorously correct, I believe. But it may have some unexpected consequences as Quicken figures various performance measures. This optional approach may present the performance in a more easily understood manner.

larryvc

@q_lurker,

Thanks for your reply. I followed your method by deleting the adds and removes, unticked matched with online security, and removed the Blackrock Finance Inc security for good measure. After running an update, the CUSIP was updated in the original BLK Blackrock Inc security.

However, changing the name to Blackrock Finance Inc alters the name for all BLK transactions, even those from before the recent company name change, including previously closed lots of BLK. While it would be ideal for Quicken to maintain name changes and dates in a database for the symbol, I imagine implementing that would be a developer's nightmare. So, considering this, I plan to restore my previous file.

I agree that this method provides a contiguous performance history but Quicken performance tracking is not its greatest strength and could be vastly improved upon. I can do all the performance tracking in Excel.

q_lurker

However, changing the name to Blackrock Finance Inc alters the name for all BLK transactions, even those from before the recent company name change, including previously closed lots of BLK.

Cornect. That is part of the give and take on choosing a preferred approach. In some cases, the company name does not change even though a new CUSIP is applied (or in the tracking systems 'NEW' is appended to the name). For some users, they may not care which name gets used or that the security name used on the original transactions got changed. When I take the approach I identified, I frequently add a Reminder Transaction indicating the name changed from 'old' to 'new' on that date.

When taking the approach you identified, I often guide users to select both security names when seeking performance data across that specific time.

When Schwab offered and you accepted the new security, did it come in with the BLK ticker? It has been Quicken pattern to not accept a new security when its ticker matches with an existing ticker in the file. When that has been a problem, I have offered the approach of retickering the older security as BLK(old) and letting the new one carry forth with a unique price history record now using the BLK ticker.