and by the way, that embarrassed dan loeb.hese e-mails said, you know, die, prim, die. >> worse than that. you can look it up. i thought reutersid, actually, a pretty good job of investigating this stuff. you have the e-mails, you can just look it up. but it's interesting. he's a fighter, he doesn't do anything without knowing what his downside is. he knows what his downside is here. but make no mistake, based on what i'm hearing -- and, you know, i'm not best friends with prim watson, but based on what i'm hearing, if this deal goes through and if it's on contingent, right? they need to secure financing, go through due diligence which will be pretty hefty. liz: they said about six months. >> so this is not a done deal. far from it. liz: aren't they supposed to do that before they put the bid in. >> you know, just so you know, i think this is regulatory stuff. according to -- liz: s they're happy with what they bought. >> yeah, i think so. but they have to check it out a little more. but if that happens, i think this is play f

so when you see a dan loeb coming you say thank god there's a smart guy. the smart money is now waking up. we had a number of hedge funds come into our stock not as activists but constructivists. >> rose: people want to make a productive ins snugs and when they do that do they say let me tell you how i think you ought to run your business? or what? >> if they have a great idea for how they can we're all ears. i'd take them all. tell me what you're do. pretend you're me for a day. if you have a great idea we'll do it. we haven't heard a lot of great ideas. they bought the stock because they think the rest of the world hasn't figured out of it. that's what dan loeb did. >> rose: but you also like the people who say nibble the florpl morgan stanley. go to it, i like what you're doing. >> that's right. >> rose: and a number of them wanted to trade. >> and they came into our stock middle of last year and they'll continue to do very well. >> i was on a television program yesterday someone said, you know i can't believe that five years now as we celebrate five ye

i think josh made an interesting point in terms of dan loeb. why does one think one can make money when dan loeb has already exited the trid? >> i think when you look at the enterprise value for this company, it's actually their assets. they're yahoo! japan and alibaba. so if they do something to monetize that, the stock is going to go higher. i agree with josh in that display revenue is down 11%, that's 40% of their -- >> and that's in a raging bull market for google and other players in the space. >> it's been a very competitive market in display. >> they're losing. >> they may be losing, i'm not defending the name. i'm just saying the way you can make money in the stock is if you have a long-term horizon and you believe they are going to monetize these assets, that's where there is value in this story, but the near-term fundamentals, including display and search, they're not that great. it's tough to buy it up here but i think if it were to pull back in the low 20s, i think it would be very interesting. >> me, too. >> so you're a little bit

i don't want to single out sony although i know dan loeb says it's worth a lot. my trust has a position in a japanese etf, that's what i want you to play if you think japan is turning as i think i do. mark in ohio. >> caller: we just got through our day of atonement. have you atoned for all the sins you made with your incorrect -- any incorrect picks you might have made from last year? >> i'm the only one that does the atonement show so i don't know about the other guys. >> caller: okay. mcdonald's just raised their dividend. would i be better off buying mcdonald's, or since they went into the chicken wing business should i buy into that? >> no, that's grain cost issue, tyson foods. mcdonald's is just doing it as a promotion. we don't know if they're going to stick with it. sally smith of buffalo wild wings said they're not really the mover in chicken wings. put on your financial hat. you'll feel better. "mad money" will be right back. >>> coming up, peer pressure. shares of retailer pier one are under water today after a weak report caused a steep sale on wall s

bid just today the stock got recommended by citigroup and i bet sotheby's is going higher because dan loebanagement to bring out more value. i think it makes sense. lobe is doing the right thing. i know 2018 has been a bust for m&a. talk about that with anybody, david faber on squawk on the street. they started strong but petered out rather dramatic. however this kind of relentless drum beat of companies spinning off properties and activists bushing to unlock value has swept wall street by storm i think it is still in its infancy. consider this a huge behind-the-scenes pop to the stock market and given all the money being raised by activists as well as cheap money available for acquirers we're going to see many more of these kinds of deals. what's really amazing? the companies in question were all doing pretty well on their own. but pretty well just doesn't seem to cut it anymore. stay with cramer. >>> tomorrow, kick off the trading day with "squawk on the street" live from post nine at the nyse. >> and i watch it on my device. we all watch it on a device. >> it all starts at 9:00 a.m. eas