Jim Cramer, The Street’s Action Alerts PLUS Portfolio Manager and host of CNBC’s ‘Mad Money,’ said Allergan (AGN) is a stock to hold onto, and the company might not take the first bid from Pfizer (PFE), should the pharmaceutical company make an offer. Several reports say that Pfizer and Allergan are in merger talks. ‘I think Brent Saunders would like to get far more, the stock traded at $340 without a takeover bid,’ explained Cramer who said Allergan’s CEO won’t settle for a low price. Cramer added that Saunders ‘has a lot of irons in the fire,’ which is why his charitable trust owns the stock. Cramer suggested that Allergan would be able to make its own acquisition, such as a company like Amgen (AMGN) or Biogen (BIIB). Cramer made the comments while answering viewers’ social media questions on the floor of the New York Stock Exchange Thursday. Send your questions to Jim Cramer on Facebook and on Twitter @JimCramer using #CramerQ.
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