The global dairy industry is witnessing significant shifts as French dairy giant Lactalis eyes an acquisition of various assets from New Zealand-based Fonterra. This proposed deal, however, has now come under the scrutiny of Australian regulators, raising concerns over competition and market dynamics. Lactalis has filed an unofficial merger application, seeking approval for the acquisition of Fonterra's consumer business and its dairy ingredients and food operations in Australia. Despite the submission, Lactalis has emphasized that no formal agreements have yet been signed with Fonterra, signaling that the deal is still in its early stages.