"The SEC is playing with fire," says Cramer on the floor of NYSE, referring to the proposed $5.1 billion merger plan of Rite Aid (RAD) with Cerberus Capital Management LP-backed Albertsons Cos., a grocery store chain, which they just pulled the plug on.

Rite Aid had scheduled a shareholders meeting to vote on the agreement Thursday, Aug. 9, which has been cancelled.

"I think they should have deal through," says Cramer.

Watch the video above for more of his thoughts on this now defunk merger.

 

For more on Rite Aid, click here:

Rite Aid-Alberstons Pull Merger Ahead of Vote

Rite Aid Plummets, Faces Uncertain Future as Albertsons Merger Collapses

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