December 17, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Inland Real Estate Corporation (NYSE:IRC), was announced concerning whether the takeover of Inland Real Estate Corporation by real estate funds managed by DRA Advisors LLC for $106.0 per share is unfair to NYSE:IRC stockholders.

The investigation by a law firm concerns whether certain officers and directors of Inland Real Estate Corporation breached their fiduciary duties owed to NYSE:IRC investors in connection with the proposed acquisition.

On December 15, 2015, Inland Real Estate Corporation (NYSE:IRC) announced that it has entered into a definitive agreement to be acquired by real estate funds managed by DRA Advisors LLC, in a transaction (the Merger) valued at approximately $2.3 billion, including the assumption of existing debt. Under the terms of the Merger Agreement, funds managed by DRA Advisors LLC will acquire all issued and outstanding common stock of Inland Real Estate Corporation (NYSE:IRC) for $10.60 per share in cash.

However, given that at least one analyst has set the high target price for NYSE:IRC shares at $12.00 per share and given that NYSE:IRC shares traded in early 2015 as high as $11.59 per share, the investigation concerns whether the offer is unfair to NYSE:IRC stockholders. More specifically, the investigation concerns whether the Inland Real Estate 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.

Inland Real Estate Corporation reported that its annual Total Revenue rose from $151.57 million in 2012 to $204.76 million in 2014.