Did you miss last night's "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.

The tobacco industry is shrinking, Cramer told viewers, and with today's announcement that British Tobacco (BTI) plans to pay $49.4 billion for the remaining 58% of Reynolds American (RAI) that it doesn't already own, it just got even smaller.

Cramer said the merger finally gives Philip Morris International (PMI) a formidable competitor. And that's why he now thinks Philip Morris should get remarried to Altria (MO - Get Report) -- to protect its dominance.

Investors may recall that Philip Morris and Altria split nine years ago. Since that breakup, shareholders have enjoyed a 118% gain.

But Cramer argued that in today's environment, where size and scale matter, a merger makes a lot of sense.

A deal would not be easy, Cramer noted, as both companies are about the same size. But Altria has a stable, predictable cash flow that could help pay down debt after an acquisition, while the iQOS vaporizer from Philip Morris could be a big win here in the U.S.

Of the two companies, Cramer said Altria is the likely target and the one to buy.

Here are 8 stocks Cramer likes if the economy rebounds.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.