Jim Cramer's Stop Trading! Do the Dow Deal

Cramer says the buyout story is still alive.

Author:: TheStreet.com Staff
Publish date:: Apr 12, 2007 2:50 PM EDT

The takeover games aren't over at

Dow

, Jim Cramer said Thursday on

CNBC's

"Stop Trading!" segment.

Cramer noted that the stock is up 3% even after the firing of two execs tied to an unauthorized leveraged buyout effort. Cramer said he believes the rise reflects Wall Street's belief that one of the two, former finance chief Pedro Reinhard, will quit the board and lead an unsolicited takeover bid.

Cramer also criticized Dow chief Andrew Liveris, a member of the

Citigroup

board, saying he and other Citi board members are "pro status quo."

Cramer gave a thumbs up to Sanford Bernstein's upgrade of

Pepsi

(PEP) - Get Report

and said

Gap's

(GPS) - Get Report

Old Navy unit is back.

Cramer is less taken with

MGIC Investment

(MTG) - Get Report

, saying it's going to get crushed by the collapse of subprime mortgage lenders.

At the time of publication, Cramer had no positions in stocks mentioned.

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