Warren Buffett, the legendary investor and CEO of Berkshire Hathaway (NYSE:BRK-B)(NYSE:BRK-A), favors making out-sized deals and acquisitions -- or as he puts it "hunting for elephants." Buffett's 2013 deal to purchase of Heinz, with the help of 3G Capital, has investors wondering which company could be Buffett's next target.

Some believe that company is Kellogg (NYSE:K)

In the following video, Motley Fool analysts David Hanson, Morgan Housel, and Matt Koppenheffer discuss the possibility of Berkshire acquiring the food-giant. The guys remind investors that even though Buffett may be interested in the business's economics, he will patiently wait for the right price.

Warren Buffett just bought nearly 9 million shares of this company
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report details this company that already has over 50% market share. Just click HERE to discover more about this industry-leading stock... and join Buffett in his quest for a veritable landslide of profits!

Morgan HouselDavid HansonMatt Koppenheffer own shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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