A contract deadline is looming on a proposed merger between Silver Fern Farms and a Chinese investor.

The Dunedin-based company has to submit an application to the Overseas Investment Office before the end of June, in order to continue with the proposal.

The merger with Shanghai Maling Aquarius needs both OIO and ministerial approval before going ahead, but no recent work has been done on the application.

Shanghai Maling is bidding for 50% of the company, for a price of $261m.