Babcock International Group PLC (LSE:BAB) is looking for acquisitions. David Mellors, Chief Financial Officer said, "We could accelerate the pension scheme deficit if the opportunity arises at the right price at the right time, we can make bolt-on acquisitions if they fit the strategy. And if we can't think of anything to do and we've got surplus capital, for a period of time, obviously, we can return that to shareholders.

So key message is we're not going to waste it and we're not going to be lazy with it".