"This is the target of Halliburton (HAL) - Get Halliburton Company (HAL) Report . You just want to know, does it matter if these companies get together?" TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.
BHI data by YCharts
"If they do it and oil bottoms, this is the opportunity. But you need to see oil bottom. It's really kind of sowing the seeds of its own demise because you need to see drilling stop in order to get a bottom, which would mean that Baker Hughes would be a bad buy," Cramer said.
"So it's kind of a Catch-22," he said. "It's a Joseph Heller novel."
At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.