The packaging company has a new activist investment from Starboard Value, which took a 5.6% stake in MeadWestvaco.
Cramer said this "remarkable company" has valuable assets that can be unlocked by management, such as real estate and different businesses -- like its chemical division.
While Cramer did not necessarily agree with Starboard's $59 per share value for MeadWestvaco, he did agree that "it makes a ton of sense" to spin off certain assets.Turning to Broadcom (BRCM - Get Report), shares are higher by 8% on news that the company will look to offload or end its cellular baseband business. The move could save the company roughly $700 million. Cramer added that the unit has been a "black hole" for the company. If Broadcom starts to focus on profitability, the stock is "indeed worth a lot," he concluded. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell >>Read More: Google to Launch Global High-Speed Internet Service Via Satellites: Report >>Read More: Seadrill Profits Rise Like the Tide >>Read More: Apple Will Probably Buy Twitter Next >>Read More: Bristol's Immunotherapy Duo Doubles Survival in Melanoma Patients