Following the re-affirmation of their relationship, Merrill Lynch and BlackRock have updated their stockholder agreement. In a filing with the SEC on Tuesday, the two companies detailed changes to the distribution agreement should Merrill sell a good portion of its global private client business.

If a change of control does occur, Larry Fink will still be able to rely on Merrill as a source of distribution for BlackRock's funds. The global distribution agreement between the two firms will automatically be extended for five years from the date the global private client business changes control.  

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