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Tim Kaine learns of Obama's projected win during acceptance speech

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Kaine led Allen by 51 to 49 percent with 88 percent of precincts reporting. Allen has conceded the race.

The Senate race was one of the most closely watched — and the most expensive — in the country; Kaine's win is the latest in a series of big Democratic victories in tight Senate races.

Read more on The Hill's Ballot Box blog.