Tuesday, April 18, 2006

Goldman chief in clampdown on hostile bid finance

LONDON, April 18 (Reuters) - The chief executive of Goldman Sachs, Hank Paulson, has told the firm to think carefully about using its own money to finance hostile takeovers after a backlash against its role in a series of UK deals, a source close to the bank said on Tuesday.

The Financial Times reported that Paulson told executives at the bank that such actions threatened its standing with corporate clients, which he said was more important than profits from any single deal.

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