TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer was surprised by Broadcom's AVGO agreement to acquire CA, Inc CA for $18.9 billion. 

People are saying, you know what, this is a mainframe buy - the mainframe is basically slowing and going away and what they would have preferred is something like a VMWare (VMW) ," Cramer noted.

Broadcom shares slumped 14.6% on the news.

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