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
