management buy out

I see, in the press release of todays date, that certain items owned by the Company, i.e. the shareholders, have been sold via a "management buy out". I hope this was done on an arms length basis and not the sale of high quality assets to managment at less than true market value. Frankly I would like to see that sale of all shareholders assets to insiders be approved by the shareholders. I wonder if the shareholders will be given this opportunity. Does any one care to respond the legal requirements of the sale of company assets to management?