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Michigan AG: No Timeline for Decision on Detroit Medical Center Sale

A representative for the Michigan Attorney General's office has said there is not a timeline for a decision on Detroit Medical Center's proposed sale to Vanguard Health Systems, according to a Detroit News report.

The two groups hope to close the deal by Oct. 31, but must have Attorney General Mike Cox's approval in order to finalize the acquisition.

The $1.5 billion deal includes a pledge by Vanguard to take on $417 million in DMC debt as well as $850 million in capital improvements, according to the report.

The Attorney General's review is "ongoing," but it remains unclear whether a decision will be rendered by Oct. 31, according to the report.

Read the Detroit News report on Detroit Medical Center.

Read previous coverage on Detroit Medical Center:

- Following Sale to Vanguard, Detroit Medical Center to Kick Off 15 Construction Projects

-
Vanguard and Detroit Medical Center Sign Final Agreement

-
Detroit City Council Approves Tax Breaks for Vanguard to Rebuild DMC

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