New Delhi, May 1 -- Maine's Democratic Governor Janet Mills on Thursday (local time) announced that she has dropped her bid to challenge Republican candidate Susan Collins ahead of the closely watched midterm elections, slated to take place in November.

Despite her popularity and political experience, Mills cited a lack of campaign funding as the primary reason for her withdrawal. In a statement, she said, "While I have the drive and passion, commitment and experience, and above all else - the fight - to continue on, I very simply do not have the one thing that political campaigns require: the financial resources."

Mills, 78, joined the primary race in October last year after encouragement from Senate Minority Leader Chuck Schumer. Many...