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BUZZ-Reckitt gains after ditching Pfizer unit bid, GSK falls

Reuters - UK Focus

** Reckitt Benckiser (Xetra: A0M1W6 - news) up 7% after ending discussions with Pfizer (NYSE: PFE - news) over a purchase of its consumer healthcare business, reflecting relief it won't be over-leveraging or considering a dilutive rights issue

** The decision is still a setback for RB's CEO Rakesh Kapoor, who has long coveted the Pfizer business, and Bernstein analyst Andrew Wood sees the news as "hugely disappointing"

** GlaxoSmithKline (Other OTC: GLAXF - news) may now have a better chance of buying the Pfizer business, which the U.S. drugmaker hopes could fetch $20 billion, though it too has significant financial constraints

** GSK shares down 1%