Sadly he used the cover of a miserable market and a Friday afternoon to bury this gem of passive aggressiveness:
The Reporting Persons have decided to withdraw their slate of directors after concluding that a considerable base of shareholders would not support their stated campaign at this time. While the Reporting Persons continue to believe that the best way to ultimately maximize shareholder value is through a sale of the Issuer to a strategic buyer, the Reporting Persons respect and understand that several large shareholders may believe that now is not the best time to run that process, given the deteriorating conditions of the financial markets and the Issuer’s view that even the Reporting Persons $80 per share offer substantially undervalues the Issuer.
This is bad news for anyone who made the puzzling choice to bet that Icahn would get Clorox sold. But even sadder is the plight of Icahn’s director nominees not named “Icahn,” who will not only miss out on the vaguely pleasant feeling of importance that comes from sometimes getting emailed reminders that they’re running for Clorox board seats, but also won’t get paid their $25k a pop honorarium because Icahn bailed before filing a proxy statement.
Schedule 13D/A [EDGAR]