The money is in foreign firms buying U.S. companies, Jim Cramer said on CNBC's Stop Trading! segment Monday.
Arab and Chinese firms buying up American companies is not a bad thing, Cramer said. "We have to stop being so parochial. If the Chinese want in, fine." Cramer pointed out the jobs provided by such foreign firms as
: "Better to do it here than there," he said.
$2.7 billion purchase of
( GLYT) is one foreign buyout that has benefited shareholders. "Cash is king," Cramer said. Other than
, few American firms have paid the kind of money seen today, when Philips, based in the Netherlands, exploited a strong euro to offer a 52% premium over Genlyte's Friday closing price.
Cramer also pointed out that
is another candidate for a buyout after reporting a "great quarter."
, a "behind-the-scenes real estate" company that looks "boring" on the surface has been producing "un-boring" results, Cramer said. He also said viewers should look for purchases by
. "There's a lot of little companies" that are ready to be bought, He said.
, for example, "would be a natural fit for BASF."
Cramer urged viewers to stay away from
in this tough market. "Garmin is becoming more of a commodity," Cramer believes. "I'd sell the stock ... too many people nipping."
At the time of publication, Cramer had no position in any stocks mentioned.
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