Cramer asks Dicker if he believes the companies' claim that they would have agreed to this deal if oil were at $100 per barrel. Dicker says the two companies have been "dancing with each other for three or four years", and he does not believe their claim. He says the economies of scale and oil prices down at $75 gave the "extra impetus to push this deal over the edge."
Furthermore, Dicker says the talks between the two companies had not been friendly in trying to get this deal done for the past few years. He does not think this deal ever would have gotten done under normal circumstances and notes the people at Baker-Hughes love their independence. He reiterates the economies of scale and oil at $75 made this deal happen.
Cramer also asks about the "highly unusual" $3.5 billion breakup, and Dicker agrees it is a lot of money and understands if investors wonder if Halliburton is overpaying. But he adds investors who buy Baker Hughes should forget the bet that the Justice Department might not allow this deal because he thinks the DOJ will approve it.
Both Cramer and Dicker suggest buying Halliburton. Cramer thinks CEO David Lesar will make something happen no matter what. Dicker notes Halliburton is the acquirer here and says the stock has been going down, which creates a buying opportunity.