Terminator is dead. News Story FOCUS-Monsanto withdraws Delta & Pine Land merger 12/20 16:31 ST. LOUIS, Mo., Dec 20 (Reuters) - Monsanto Co. (MTC) said Monday it had withdrawn its merger approval filing for its merger with cotton seed breeder Delta and Pine Land Co. (DLP) due to delays in the anti-trust review and demands by the U.S. Department of Justice. "We worked in good faith for over a year with the DOJ to address their concerns and complete a merger that maintained competition in the sale of cottonseed. Unfortunately, we were unable to come to an understanding that would have let us to go forward with this transaction," Hendrik Verfaillie, president and chief operating officer of Monsanto, said in a news release. "While the withdrawal of the filing does not preclude additional efforts with the (Justice) Department, we cannot be optimistic that they will succeed," he added. Officials at Scott, Miss.-based Delta could not be reached for comment. Monsanto said the two companies will be meeting to discuss certain issues including a merger termination fee associated with the decision. Monsanto had agreed to buy Delta in May 1998 in a deal valued then at $1.9 billion, but it had been mired in a lengthy antitrust review process. In August, the Justice Department had issued a civil investigative demand (CIV), which is similar to a subpoena - asking for more information to determine whether the companies had conversations that lessened competition in the cottonseed market. "Basically I think that the antitrust issues were bigger than people initially thought," Christine McCracken, agribusiness analyst with Midwest Research, said. McCracken said there were still likely suitors for Delta including the French-German life sciences company Aventis and Midland, Mich.-based Dow Chemical Co. DOW). Earlier today shares of Delta dropped near a 52-week low after Monsanto's merge announcement with Pharmacia & Upjohn Inc. (PNU) raised concerns among analysts that Monsanto would call off its deal to buy Delta. Delta's stock closed off 1 at 16-3/16 and Monsanto's stock closed off 5-1/8 at 36-5/8 on the New York Stock Exchange. REUTERS