NEW YORK (TheStreet) -- TheStreet's Jim Cramer says cheaper oil prices will bring about some mergers and acquisitions activity, but not necessarily in the way investors want it.
Cramer says people think its cheaper right now to buy energy stocks other than Exxon Mobil (XOM) or Chevron (CVX) than it is to go drill. He says this will ultimately play out, but it's a 2015 story and possibly a mid-2015 story because some oil companies will go bust in the interim.
Cramer says this will bring down valuations even further, at which point investors should strike. He tells investors who want to buy Anadarko Petroleum (APC) , which is his "most takeover-friendly name," to wait for some bad news to hit before they start buying that kind of stock.APC data by YCharts