Cramer said the unit is worth about $4.5 billion. Shareholders should be pleased. The company has an enterprise value of $28 billion -- with quite a bit of debt -- and a market cap of only $12 billion.
A lot of hedge funds are also involved in the stock, he said, and it will be interesting to see if they take profits on Monday's news or stay invested in the company.
Turning to Regeneron Pharmaceuticals
(REGN), Citigroup upgraded the stock to buy from hold. But Cramer questions the timing of the call, saying the analyst is a little late to the party.
Cramer called Regeneron's Leonard Schleifer "one of my favorite CEOs."
- - Written by Bret Kenwell in Petoskey, Mich.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts