The London offices of Goldman, Sachs & Co. and HSBC Investment Bank PLC will syndicate a three-part, $6 billion loan to finance Pearson PLC's planned buyout of Viacom Inc.'s Simon & Schuster education publishing business.

The deal by London-based Pearson, announced late Sunday, beat out rival bids by leveraged-buyout firm Kohlberg Kravis Roberts & Co. and a group led by junk-bond king Michael R. Milken. Pearson said it would pay $4.6 billion for the publishing unit.

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