Jim Cramer's 'Stop Trading!': Buy GIS

Buy General Mills (GIS Quote), Jim Cramer said on CNBC's "Stop Trading!" segment Monday.

In the wake of a Berkshire Hathaway (BRK.A Quote) -financed buyout of Wrigley (WWY Quote), Cramer said General Mills trades at a "very substantial discount" at these levels.

"People should go back and realize that this company, at 18 times earnings, may be a steal," Cramer said of the cereal maker.

Cramer also pointed viewers to Heinz (HNZ Quote), ConAgra (CAG Quote) and Kraft (KFT Quote). "I think all these companies should be re-evaluated upwards after this," he said.

"I think this group has been forgotten about," Cramer said. Investors who think the recession will last a while should think about these names, he said. He said Heinz is a well-run company, and although he's skeptical of Kraft as a takeover target, he said it has good brands. Kellogg (K Quote) and General Mills might be interesting together, he said.

Cramer praised Wrigley CEO William Perez and predicted he would stay on board after the merger.

Of a potential Mars IPO, Cramer said, "I've worked with that company from time to time ... they hate the glare." He was skeptical that the company would come public. "God love 'em. ... I don't blame em one bit," he said. The company is probably better off without "the endless lawsuits" and "SEC scrutiny" that comes with being public, he said.

Cramer said that investors should approach the idea of a merger between Cadbury Schweppes (CSG Quote) and Hershey (HSY Quote) with caution. He said that Hershey has "a lot of self-inflicted wounds," and "Cadbury itself has a lot of issues."

On the other hand, "I think Campbell's (CPB Quote) is in shape to do a big deal," Cramer said.

For a trade on the $600 tax rebate checks hitting consumers' accounts, Cramer recommended Polo Ralph Lauren (RL Quote) and Phillips-Van Heusen (PVH Quote). He also said that "wealthier people are going to their Apple (AAPL Quote) Store. It's my favorite thing to do when I'm not working."