Cramer: 'Incredible' if DOJ Allows Baker Hughes-Halliburton Merger

Oil field services provider Baker Hughes confirmed Thursday it is in preliminary merger talks with rival Halliburton. Jim Cramer says the Justice Department has been very tone deaf when it comes to the oil patch. He says it would be incredible for the Justice Department to allow the merger, given how the two companies compete against each other. Prices for their services would go up since they would no longer be competing, he explains. But he concedes that this antitrust division may not understand the overlap and could very well let the deal go through. But Cramer warns investors that if the deal doesn't go through, these stocks deserve to be much lower so be careful. The potential deal between Baker Hughes and Halliburton comes during a drop in oil prices which have lowered demand for drilling services as well as hurt stock prices across the sector.