Silver Fern Farms chairman Rob Hewett says the handling of the Shanghai Maling vote last October has been vindicated by the Financial Markets Authority ruling this week.
Speaking from Hohhot, in China, where he is leading a shareholders tour, Mr Hewett said the company was "very pleased'' with the announcement.
"It vindicates our position which we knew was correct all along and supported by 82% of shareholders who voted for this proposal,'' he said.
Mr Hewett believed the FMA had done a "great job''.
It had spent a lot of time with selected management and board members and the company was very open, he said.
SFF was now working on a meeting date for the requisition by John Shrimpton and Blair Gallagher seeking a rerun of the vote to form a joint venture with Shanghai Maling.
"We have said before . . . we're of the view this is a waste of time and resources.''
Silver Fern Farms was under contract with Shanghai Maling and had done everything it had needed to do by law and "beyond that''.
It would have a special meeting because it was obliged to but it did not agree with what the requisitioners were asking it to do.
While he could not put a figure on it, Mr Hewett said the cost of such a meeting would be "significant''.
An Overseas Investment Office decision on the transaction was pending, he said.