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Goldman builds bridge-loan business with Amazon, Discovery deals

New York

GOLDMAN Sachs Group Inc's longtime dominance of the takeover advice business is finally translating into some success for its efforts to finance those deals.

The bank has provided short-term bridge loans to help fund two of this year's biggest deals, including Discovery Communications Inc's buyout of Scripps Networks Interactive Inc and Amazon.com Inc's purchase of Whole Foods Market Inc. It's been an important segment at a time when big deals involving US companies are down by a third from a year ago.

Putting up the cash gives Goldman Sachs a chance to capture revenue at just about every step in the merger process: fees from advising on the deal, laying out the bridge financing and then...

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