While Wall Street continues to reel from Amazon's monumental bid for high-end food retailer Whole Foods, Jim Cramer found a major natural gas deal that fell under investors' radars.
"With natural gas at $3, a dollar above where it was last year, and Rice's $1.12 all-in cost of production, this is a remarkable deal that will make fortunes for EQT's shareholders," he said.
And despite the market's animosity for oil and gas as a sector, Cramer said there is more opportunity there that meets the eye.
"This EQT-for-Rice deal shows us that portfolio managers can shun the group all they want. It just creates the values that are obvious to the companies themselves, who are happy to do some buying at prices well below the cost of drilling itself," Cramer said.