It's been a while since a number of important deals all went down at the same time. But it's happening now and Cramer doesn't want you to miss the message.
"M&A is a vital part of the market," Cramer explained. Not only does it highlight changing dynamics within a sector but it also helps investors gauge whether stocks are fairly valued, broadly.
That is, if a takeover target is too expensive, the deal just won't happen. "And the lack of M&A this year has led many to believe that stocks are too high," Cramer said.
Therefore, the Mad Money host thinks the following mergers are of the utmost importance; due to what they say about the sector and the market as a whole.
Perrigo & Elan
"We've long championed Perrigo as a maker of knock-off store brand over-the-counter drugs as well as generic medicines. Perrigo can manufacture these products cheaply and charge less than the nationally branded competition, allowing stores like Walgreen's and CVS to make much more money than they do with the big name Johnson & Johnson or Procter & Gamble offerings."
However, Cramer thinks there's something else about this deal that warrants attention.
"This deal allows the company to shift its geographic status to Ireland, changing the tax burden to a much lower rate. I believe that's a big driver. And while I wish there were more to it than that, the combined company will have higher after tax earnings and that's what matters," he said.