Analogy maybe?
Years ago a chap I know had a vey successful automotive business. Put everything in your wife's name was the advice from the accountant. Guess how that turned out!
Having the two companies separate may have given DJ the perceived advantage of keeping the IR situation local (bit like VAI), and in this way divide/conquer etc.., when the NZ boys and girls finally had a gut full, difficult now for them to step in and fill the breach!
Smartest people in the room, yeah right!
Make sure the deal is reasonable guys. You may just have them by the B@lls!