10/31/2012 08:10 am ET Updated Dec 31, 2012

Henry Ford, Beaumont Health Systems To Announce Merger Talks In Blockbuster Deal

In a blockbuster deal to combine two of Michigan's largest hospital groups, Henry Ford Health System and Beaumont Health System are expected to announce Wednesday that they have signed letters of intent to pursue a merger.

A press conference is to be held at 11 a.m. at William Beaumont Hospital in Royal Oak, with CEOs of both groups present, several sources told the Free Press.

News of the deal, which is contingent on further discussions and due diligence, began to circulate among industry and civic leaders Tuesday afternoon, following a meeting where Beaumont trustees approved it, according to sources who requested anonymity because the discussions were confidential.

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