Compass Lexecon expert Neil Dryden was retained by Asda Wal-Mart in the context of its acquisition of Netto Foodstores Limited. Compass Lexecon assisted in analyzing approximately 12,000 face-to-face surveys and implementing a more complex form of the illustrative price rise (IPR) formula than had been used previously to account for the asymmetry of Asda and Netto. The OFT accepted the extensive survey evidence and the IPR analysis, stating “The OFT had considerable interaction with the parties on the calculation of [the] input variables and accepts the parties’ approach”. The Compass Lexecon team also assisted by assessing efficiencies. The OFT accepted efficiencies in only the second merger case ever, stating “Overall the OFT is persuaded to the requisite high standard that some purchasing synergies will arise as a result of the proposed merger”. The OFT cleared the merger subject to local divestments in March 2011. The Compass Lexecon team also included Erik Langer and Segye Shin in our London office. We worked with Bertrand Louveaux at Slaughter and May.