On Sept. 13, Nvidia (NVDA) announced its plans to acquire Arm Inc. from SoftBank (SFTBF) in a $40 billion cash and stock deal. The shares rallied 5.8% that day, because Wall Street knew it was a great deal, Jim Cramer told viewers of Mad Money Thursday night.
However, now that the stock has gotten caught up in the stock-market pullback, Cramer says it looks much more attractive back near its prior levels before the deal was announced.
In short, "I think it's worth every penny," Cramer said of the deal. But that's if the deal can gain regulatory approval - and that may be a "big if," he added.
It may take 18 to 24 months to close, but it's worth the wait if Nvidia can get it done. With Arm, it will be unstoppable.