Jim Cramer said he's hanging on to his charitable trust's stake in Dow Chemical (DOW) even though it's way up since he bought shares, as the stock-picker expects even more gains once the company completes its planned $59 billion megamerger with DuPont (DD) .
"We are not trimming," Cramer said during his latest conference call with members of his Action Alerts PLUS club for investors. "We think that this combination is going to get approved and that [Dow] is worth another eight points." (Click here to find out how you can listen in on Cramer's monthly Q&A calls.)
Cramer's trust bought its Dow stake back when the stock was trading in the $40s, but the name has rallied to the mid-60s since then. Despite those hefty gains, Cramer believes that management plans to divide the combined Dow/DuPont entity into three companies are "going to bring out a tremendous amount of value."
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