Will Burlington Be Buffett's Last Big Buy?

Another long-time Buffett investor, Paul Lountzis of Lountzis Asset Management, said that in the past Buffett has named Wrigley as one of the few global brands he really admires. Lountzis said that Mars is exactly in line with the Buffett model of businesses that he understands, and businesses that will be viable in the long run. "Mars' products and services are all in Buffett's sweet spot," Lountzis said, adding, "it's the perfect kind of Buffet company and he would probably love to own it."

For the Mars family, there could be benefits, in terms of their long-term planning and succession issues, of being part of a diversified stock like Berkshire Hathaway. "Berkshire would offer a good home for the Mars wealth," Lountzis said.

Of course, Berkshire Hathaway has its own succession issues -- even if Buffett lives to celebrate his 100th birthday and go hog-wild at a celebration with the crew of livestock company CBT in 2030.

There is also the issue of valuation. Just because Mars is one of the brands that Buffett says he really admires, along with Wrigley and Coca-Cola(KO) -- which Berkshire also has a stake in -- admiration for Mars may not extend to what the Mars family believes their privately held company is worth.

There are sweet spots that would need to be reached in valuation and succession planning that may not be obvious for either Berkshire Hathaway or the Mars family.

Still, it is not impossible to imagine an M&A marriage of the privately held confectioner and new railroad magnet, with Burlington Northern train cars not just full of coal and inter-model freight, but stacked with Mars bars and M&Ms as they chug across the continent.

In light of all this, we ask TheStreet readers: Do you think Buffett is done making "all-in wagers" after Burlington, or does his M&A sweet tooth still crave M&Ms? Take our poll below to learn the consensus of TheStreet -- and don't forget to leave a comment for Grandpa Warren after you do.

Do you think Buffett is done making 'all-in wagers' after Burlington? Or does his M&A sweet tooth still crave M&Ms?
	Buffett will eventually buy Mars. Buffett will continue to wheel and deal, but Mars is not a likely target. No more dealing for Buffett; Burlington will be the crowning achievement of his career.

-- Reported by Eric Rosenbaum in New York.

RELATED STORIES:

>>Go Long on Buffett and Berkshire

>>Berkshire Hathaway: a New Trading Tool?

>>Berkshire Hathaway Runs into Resistance

>>See our new stock quote page.

Follow TheStreet.com on Twitter and become a fan on Facebook.

>To order reprints of this article, click here: Reprints