The Commerce Commission said it had cleared Fonterra to acquire the dairy processing assets of New Zealand Dairies, which is in receivership.
The lowering last week of the forecast payment Fonterra will make to farmers for milk this season has much wider repercussions than just the bank balances of the country's 14,000 dairy farmers.
Dairy farmers have been again urged to "pull the belt buckle in" after Fonterra sliced 30c from its previous forecast range for the 2012-13 season to $5.65-$5.75.
Fonterra said it had downwardly revised its forecast payout to farmers for the 2012-13 season due to ongoing strength of the New Zealand dollar.
FOonterra has welcomed the Commerce Commission's final report on a "dry run" review of how the dairy giant sets its farm gate milk price.
Fonterra has notched up a record end-of-season quarter with 620,000 metric tonnes of dairy products exported - up 36% on the same period last year.
Production has started at Fonterra's new $200 million milk powder plant near Darfield.
Waikato dairy farmer John Wilson has been named chairman-elect of Fonterra, replacing Sir Henry van der Heyden.
Fonterra has welcomed the passing of the third and final reading of the DIRA Bill, which provides the legislative changes needed to enable Trading Among Farmers (Taf).
Fonterra has dropped from third to fourth place in Rabobank's latest survey of the world's top 20 dairy companies.
Fonterra may have gained a mandate to proceed with its controversial Trading Among Farmers (TAF) scheme, but not all farmers are convinced.
Fonterra is still working towards a November launch for Trading Among Farmers but that will be dependent on market conditions, chairman Sir Henry van der Heyden says.
Fonterra's dairy farmers have voted in favour of the cooperative's Trading Among Farmers share trading scheme, but they will need to vote again on required changes to its constitution.
Fonterra will have to "go back to the drawing board" to resolve redemption risk and also put key projects on hold if Trading Among Farmers does not proceed.
The misconception that Trading Among Farmers is about raising capital needs to be "laid to rest", Fonterra chairman Sir Henry van der Heyden says.
Fonterra's acquisition of the New Zealand Dairies Ltd's milk-processing factory at Studholme has been described as "absolutely the best news" for the Waimate community.
Port Otago and Fonterra are undertaking a workplace trial in sharing their respective warehousing staff at peak times between two separate milk-powder warehousing areas at Port Chalmers.
Fonterra Shareholders Council's three southernrepresentatives have expressed their support for Trading Among Farmers and urged shareholders to become fullyinformed before voting on the controversial scheme.
Voting is open for Fonterra's special meeting on the controversial Trading Among Farmers scheme.
Debate continues to rage over Fonterra's controversial Trading Among Farmers proposal, with Federated Farmers dairy chairman Willy Leferink saying the lobbying from all sides is "frankly unbelievable".