A cautious Jim Cramer told viewers of his "Mad Money" TV Show Monday that despite the market's 413-point rally today, he's still taking things one day a time. Cramer was cheered by a bit of positive news that the market is near a bottom in Excelon's ( EXC) bid to purchase NRG Energy ( NRG), at a 37% premium from Friday's close. He encouraged NRG's CEO, David Crane, to accept the gracious offer. In typical Cramer fashion, he drove his point home by adding three new CEO's to his "Wall of Shame" list of the worst executives. They included Straus Zelnick, of Take Two ( TTWO), Oleg Khaykin, of International Rectifier ( IRF), andJohn Lauer, of Diebold ( DBD), all of who rejected gracious takeover bids only to watch their stock price plummet afterward. International Rectifier received a takeover bid on Aug. 15 for$22.15 a share and rejected it, despite closing the previous day at $18.82 a share. The stock currently trades at just over $14. Take Two received a bid from rival Electronic Arts ( ERTS) on Feb. 26 at a 64% premium to its share price. That offer too was rejected. Take Two now trades at roughly half that value. Finally, Diebold rejected a takeover bid it received on March 2 from United Technologies ( UTX) for a $40 a share, a 65% premium to its share price. That stock now trades at $28 a share. Cramer said the Excelon-NRG bid tells us two things. First, companies are starting to see value in their rivals, and second, "when you get a bid, you say 'yes!'"
Cramer: Exelon-NRG Deal Should Happen