Cramer's 'Mad Money' Recap: Dec. 4

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With stocks getting cheaper by the day, Jim Cramer told the viewers of his "Mad Money" show Thursday it should be wedding season on Wall Street, with the few companies that have cash on hand buying up their rivals at unheard of valuations.

He offered up not one, but two, more shotgun weddings that make perfect sense in this deflationary environment.

Cramer said yesterday's announcement that Johnson & Johnson , which he owns for his Action Alerts PLUS portfolio, is acquiring Mentor (MNT Quote) and Omrix BioPharma paved the way for forward-thinking companies to snatch up their competition.

Next on Cramer's matchmaking list was Illinois Toolworks buying up Manitowoc (MTW Quote).

Last April, both companies were in a bidding war for Britian's Endois, a battle which Manitowoc eventually won. But Cramer said in the sweetest act of revenge, the once mighty Manitowoc, which once traded as high as $50 a share, now trades at a lowly $6 a share.

Illinois Toolworks is now in a position to buy Manitowoc, including Endois, for just $900 million, or less than half of what it would have paid for Endois alone last year.

Cramer's second match made in heaven was sports apparel giant Nike (NKE Quote) buying arch rival Under Armour (UA Quote).

Under Armour is another company hit hard by recent declines, with its once $67 stock now trading at just $24 a share and a marketcap of just $1.18 billion.

Cramer said Nike can afford it since it spends a whopping $5 billion a year just on buying back its own stock. He said Nike would be much better served using this money to snatch up Under Armour.

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