The money is in foreign firms buying U.S. companies, Jim Cramer said on CNBC's Stop Trading! segment Monday.
Arab and Chinese firms buying up American companies is not a bad thing, Cramer said. "We have to stop being so parochial. If the Chinese want in, fine." Cramer pointed out the jobs provided by such foreign firms as Toyota (TM - Get Report) and Honda (HMC - Get Report): "Better to do it here than there," he said.
Philips Electronics' (PHG - Get Report) $2.7 billion purchase of Genlyte (GLYT) is one foreign buyout that has benefited shareholders. "Cash is king," Cramer said. Other than Celgene (CELG - Get Report), few American firms have paid the kind of money seen today, when Philips, based in the Netherlands, exploited a strong euro to offer a 52% premium over Genlyte's Friday closing price.