What's In a Name Like Buffett?

There are times when it just takes a last name like Buffett to get a deal done.

Anheuser-Busch announced this week that it will distribute Jimmy Buffett's Margaritaville Tequila in Massachusetts. The country's second-largest brewer is dipping its toes in the spirits market after years of slowing growth in the beer market, according to the Wall Street Journal.

This is the second venture between the folksy singer and the Budweiser maker. The two teamed up earlier this year to develop Landshark Lager through one of A-B's units, conveniently named "Margaritaville Brewing Co."

Is it possible that another Buffett had a hand in Busch's Margarita-inspired business deals?

The legendary investor Warren Buffett is an old buddy of Jimmy's--the two even had their DNA tested recently to find out if they are related. (They aren't.)

Conveniently enough, Warren Buffett is also a major shareholder in Anheuser-Busch. His company, Berkshire Hathaway, is the second-largest owner, with a 4.7 percent stake.

The company denies any evidence of cronyism. "We value input from all of our shareholders, but our agreement with Margaritaville Spirits was developed without the involvement of any third parties," it said in a statement.

Separately, the New York Post reported yesterday that Buffett could soon have some unwelcome company at the Anheuser-Busch shareholder meetings. The activist investor William Ackman, through his hedge fund Pershing Square Capital Management, plans to invest $2 billion "in an assault on just one, specific iconic American company."

Ackman usually builds up ownership in companies that he believes have depressed valuations. With his controlling interest, he puts pressure on boards to "unlock" their value through corporate restructuring or spin-offs.

Based on information gathered from the fund's investors, Anheuser-Busch made the short list of possible targets.

In an Ackman vs. Two Buffetts battle, whom would you pick to win?

by Megan Barnett