Cramer Says Illinois Tool Works (ITW) Should Buy Manitowoc (MTW)

On Mad Money tonight, Jim Cramer thinks Illinois Tool Works (NYSE: ITW) should buy Manitowoc (NYSE: MTW). Illinois Tool Works could buy a Manitowoc for a pittance and get Enodis for free. Illinois Took Works offered $2 billion plus for Enodis earlier this year, but Manitowoc won the bidding war and now owns Enodis. Therefore, Illinois Tool Works could buy Manitowoc and get Enodis as well for all under $1 billion.

This deal sounds good on the surface, but if construction and the global economy continues to decline, it may make sense for Illinois Tool Works to stay on the sideline a little longer.

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The Manitowoc Company, Inc. diversified industrial manufacturer in three principal markets: Cranes and Related Products (Crane), Foodservice Equipment (Foodservice) and Marine.
Illinois Tool Works Inc. (ITW) is a worldwide manufacturer of engineered products and equipment.

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