  We study a model for the denaturation transition of DNA in which the
molecules are considered as composed of a sequence of alternating bound
segments and denaturated loops. We take into account the excluded-volume
interactions between denaturated loops and the rest of the chain by exploiting
recent results on scaling properties of polymer networks of arbitrary topology.
The phase transition is found to be first order in d=2 dimensions and above, in
agreement with experiments and at variance with previous theoretical results,
in which only excluded-volume interactions within denaturated loops were taken
into account. Our results agree with recent numerical simulations.
