On March 29, 2011, the U.S. Department of Justice cleared Dean Foods’ acquisition of Foremost Farms. The two companies process milk that is sold in Illinois, Michigan, Minnesota and Wisconsin. In a settlement with the DOJ, Dean Foods agreed to divest a plant in Waukesha, WI. Professor Dennis Carlton, Bradley Reiff and Lynette Neumann of Compass Lexecon were retained by Dean Foods to conduct econometric analyses of the proposed merger’s likely effects on prices for fluid milk and milk sold to school districts. Compass Lexecon worked with a legal team headed by Paul Denis and Steven Bradbury at Dechert LLP.