Cramer's 'Mad Money Recap': The Verizon Wireless-Alltel Windfall

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"I've found the next Alltel and it's not who you might think," Jim Cramer told viewers of his "Mad Money" TV show Thursday.

He said that after today's announcement of the buyout of privately held Alltell Communications by Verizon Wireless, a joint venture between Verizon(VZ Quote) and Vodafone(VOD Quote), investors should be looking for the pin-action that will make them money.

According to Cramer, Windstream(WIN Quote) will be the biggest benefactor of the Verizon Wireless-Alltel deal, but not for the reasons investors might think. Cramer views Windstream not as a takeover target, but rather as an acquirer.

In order to make the merger happen, he said, Verizon Wireless will inevitably be forced to sell off some of its overlapping regional assets and Windstream will be in the perfect position to purchase them.

He said the situation is similar to his recent recommendation of Chattem(CHTT Quote), who saw its stock nearly double after it acquired assets that Johnson & Johnson(JNJ Quote) was forced to sell after it acquired them from a deal with Pfizer(PFE Quote).

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