Cramer notes that the U.S. government is blocking the deal between Sysco (SYY - Get Report) and US Foods and says the government also didn't want the merger between Dollar General (DG - Get Report) and Family Dollar (FDO) .
But Cramer does not think the federal government will block the Staples and Office Depot deal because the office supply category has been riddled by Amazon (AMZN - Get Report) and Costco (COST - Get Report) and people can buy office supplies anywhere, so a merger here would not really create a monopoly.
Cramer says there was a monopoly here at one time because these two companies were the go-to place for office supplies, but that has changed. He thinks these two companies should merge in order to survive and thrive.
But the problem, Cramer says, is the two stocks have gone up so much that it's difficult for Office Depot to get a premium at this point. Cramer advises investors to let the two stocks cool off because if the government does block the deal, then you will lose 10% very quickly.SPLS data by YCharts