Belk Shareholders Approve Sale to Sycamore Partners

Shareholders of Charlotte-based Belk on Wednesday approved the sale of the company to New York private equity firm Sycamore Partners, one of the last steps needed to end family control of the department store chain. The $3 billion deal announced in August has passed all required regulatory approvals, Belk said in a statement Wednesday. It's subject to certain closing conditions and is expected to be completed in late November or early December.