If someone took FAR by buying a majority of its shares, WPL and CNE would have 30 days to PE the FAR JV asset by paying the value that FAR provide in their notification to their JV partners.
WPL and CNE would not have the right to see the terms of FAR's share sale because, as you point out, you cannot PE a company. They may lodge a dispute on the notification value and valuation method within the 30 days.
I would suggest optimum time for CNE and FAR to exit would be at start of development and joining forces might be a good marketing strategy to attract a big fish with combined larger and (by then) more juicy bait with appraisal and FEED completed.
FAR Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
(20min delay)