Did you miss last night's "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.

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The tobacco industry is shrinking, Cramer told viewers, and with today's announcement that British Tobacco (BTI) - Get Report plans to pay $49.4 billion for the remaining 58% of Reynolds American (RAI) that it doesn't already own, it just got even smaller.

Cramer said the merger finally gives Philip Morris International( PMI) a formidable competitor. And that's why he now thinks Philip Morris should get remarried to Altria (MO) - Get Report -- to protect its dominance.

Investors may recall that Philip Morris and Altria split nine years ago. Since that breakup, shareholders have enjoyed a 118% gain.

But Cramer argued that in today's environment, where size and scale matter, a merger makes a lot of sense.

A deal would not be easy, Cramer noted, as both companies are about the same size. But Altria has a stable, predictable cash flow that could help pay down debt after an acquisition, while the iQOS vaporizer from Philip Morris could be a big win here in the U.S.

Of the two companies, Cramer said Altria is the likely target and the one to buy.

Here are 8 stocks Cramer likes if the economy rebounds.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.