September 4, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Belk Inc (OTCMKTS:BLKIA), was announced concerning whether the takeover of Belk Inc by investment funds managed by Sycamore Partners is unfair to OTCMKTS:BLKIA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Belk Inc breached their fiduciary duties owed to OTCMKTS:BLKIA investors in connection with the proposed acquisition.

On August 24, 2015 Belk Inc (OTCMKTS:BLKIA) announced that it has entered into a merger agreement whereby investment funds managed by New York-based private equity firm Sycamore Partners will acquire 100% of Belk Inc in a transaction with an estimated enterprise value at closing of approximately $3.0 billion. Under the terms of the merger agreement, all Belk stockholders will receive $68.00per share in cash for each share of Belk Inc (OTCMKTS:BLKIA) common stock they own.

However, the investigation concerns whether the offer is unfair to OTCMKTS:BLKIA stockholders. More specifically, the investigation concerns whether the Belk Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Belk Inc reported that its Total Revenue rose from over $3.69 billion for the 52 weeks period that ended on January 28, 2012 to over $4.1 billion for the 52 weeks period that ended on January 31, 2015.