Cramer's 'Mad Money' Recap: YaBay? eBayhoo?

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"Tonight I want to propose something radical and dramatic -- that two quickly declining companies come together to form something worth owning," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

"I want to merge Yahoo! (YHOO) with eBay (EBAY)."

Although Cramer wouldn't want to be in either of the stocks alone and said that unfortunately he owns Yahoo! for his charitable trust, Action Alerts PLUS, together these two look good, he said.

Though Google (GOOG) has growth that is accelerating, few other Internet companies have managed to pull this off, he said. "Once the growth goes, you have to do something to get that sizzle back, because on Wall Street growth is everything."

Yahoo! and eBay both need to take drastic action and merge, Cramer said. These two stocks are never thought about as a combination, but that's "ridiculous." Both are slowing at alarming levels and have little room to grow, he added. On Tuesday, Merrill Lynch downgraded them both.

However, Cramer said he doesn't expect them to go down because Yahoo! and eBay are propping their stocks up with massive buybacks.

Even though he considers them both great businesses, Cramer believes that Yahoo! and eBay have hit a wall and won't go anywhere unless they wed. The two are running out of places to grow, and a union, he feels, could help.