This post first appeared earlier Monday on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.
is selling at a big premium? You think
paid a lot? What do people think the Marcellus assets of
National Fuel Gas
will go out for? How about if
starts breaking up its assets?
The natural-gas market is now in the undeniable phase after years of being denied. Whether it be for heating, for buses, for trucks, for hydrogen (great piece by
yesterday) the fuel is right, especially now that the Republicans have the House.
In eight days we will see new energy legislation that will make people realize that we are going to subsidize natural gas for trucks. That's great for
, which owns a big chunk.
But what it is really good for is the nat-gas companies that have assets for sale, particularly National Fuel Gas, which has announced Jefferies as a banker, and Chesapeake, which is always in trade mode -- incorrectly hated for that if you ask me.
When I had Ed Cohen, the CEO of Atlas, on "Mad Money" recently, he told you point-blank that he was willing to sell the company. It didn't even move the next day. It was nuts.
Well, now we know for sure it was nuts with that huge premium. National Fuel Gas, Chesapeake, they are the plays off this one.
At the time of publication, Cramer was long CMI.
Jim Cramer, founder and chairman of TheStreet.com, writes daily market commentary for TheStreet.com's RealMoney and runs the charitable trust portfolio,
. He also participates in video segments on TheStreet.com TV and serves as host of CNBC's "Mad Money" television program.
Mr. Cramer graduated magna cum laude from Harvard College, where he was president of The Harvard Crimson. He worked as a journalist at the Tallahassee Democrat and the Los Angeles Herald Examiner, covering everything from sports to homicide before moving to New York to help start American Lawyer magazine. After a three-year stint, Mr. Cramer entered Harvard Law School and received his J.D. in 1984. Instead of practicing law, however, he joined Goldman Sachs, where he worked in sales and trading. In 1987, he left Goldman to start his own hedge fund. While he worked at his fund, Mr. Cramer helped start Smart Money for Dow Jones and then, in 1996, he founded TheStreet.com, of which he is chairman and where he has served as a columnist and contributor since. In 2000, Mr. Cramer retired from active money management to embrace media full time, including radio and television.
Mr. Cramer is the author of "
," "You Got Screwed," "Jim Cramer's Real Money," "Jim Cramer's Mad Money," "Jim Cramer's Stay Mad for Life" and, most recently, "Jim Cramer's Getting Back to Even." He has written for Time magazine and New York magazine and has been featured on CBS' 60 Minutes, NBC's Nightly News with Brian Williams, Meet the Press, Today, The Tonight Show, Late Night and MSNBC's Morning Joe.