SDM have repeatedly said their cash position is maintained to...

SDM have repeatedly said their cash position is maintained to look at acquisitions of growth assets in the resource services sector.

MDM looked like a decent company but probably over-priced for the deal (ROI was around 6%) and obviously the two companies couldn't get settled on final terms of the deal.

I think SDM will be looking to keep cash until some real bargains in the mining services sector become 'up for sale'.