It clearly relates to their 5 year contract with DCN who are now...

It clearly relates to their 5 year contract with DCN who are now in dire financial situation and will be asking MAH to take a pay cut or at least give them more time to pay.

Hopefully the fall in share price has put them out of running for the acquisition. NWH seem to be ahead. It's too big a bite for MAH now I would think. They just need to execute on their existing business for another 12 months, get cash positive and then think about stuff like that.

(I get the rationale - they have massive tax losses so they would be able to earn tax-free dollars from the new acquisition and pay down debt quickly - but just take your time i reckon and go for something smaller first).

The DCN contract is only 5% of revenue (probably a bit more of EBIT) so it's not going to be disastrous. If the market decides they aren't going to be using script to make an acquisition or taking on new massive debt then they might even re-rate upwards depending on the severity of the DCN news.