owned by a corporation to be sold without shareholders approval?

Yes. I worked for a company that sold a warehouse/land and it never went to shareholders..This was in the millions of dollars. And this is a pubically listed, well known company.

Think about it...if Microsoft needed all the shareholders' approval before they completed a transaction, business would come to a halt. That's why we have the Board of Directors for some major decisions. However, there are some more important decisions that are put to the shareholders. For example, whether or not to keep an auditing firm....approve a retirement or stock option plan.