It remains unclear whether the proposed merger between Silver Fern Farms and a Chinese investor is done.

Silver Fern Farms had till the end of June to satisfy conditions of the sale with China's Shanghai Maling Aquarius.

The Dunedin-based company insists the deal hasn't been derailed, but it's facing criticism from New Zealand First Leader Winston Peters.

He believes Silver Fern’s directors haven't acted in the best interests of the company, particularly by not seeking shareholder approval for a major transaction.

Those complaints have been rejected by the companies office.

Shanghai Maling is bidding for 50% of the meat co-op, for a price of $261m.