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The chemicals sector is enjoying a bull run, but there’s some M&A action to be had as well. Cramer said the next most likely target is Nova Chemicals.

Of course, great minds think alike, and BB&T Capital’s Frank Mitsch is predicting the same thing. Mitsch also called the Huntsman and Lyondell buyouts.

Here’s the story: Len Blavatnik is building a chemicals empire through Basell Holdings, and the man’s been on a shopping spree, Cramer said. A smart investor should be looking to see whom Blavatnik picks up next.

Nova makes chemicals that go into synthetic rubber, plastics, insulation, fiberglass, packaging and energy co-products. Using the Huntsman and Lyondell offers as comps, Cramer thinks Nova’s $40 stock could fetch $50.97 on the low end and $61.24 on the high end. That’s an average of $56.10.

BB&T’s Mitsch called $55.44 on the low end and $66.40 on the high end, or $60.92 if you average them out. Either way, the lowest numbers give investors a 26% premium, while he highest figures offer up 64%. Not bad at all.

Bottom Line: If you want to try to make mad money in chemicals, think about buying Nova Chemicals.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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