Republican Mitt Romney conceded the presidential election to US President Barack Obama in a late-night speech on Tuesday, congratulating him for his victory.
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"This is a time of great challenges for America and I pray that the president will be successful in guiding our nation," Romney said.
After thanking his running mate Paul Ryan, family and supporters, Romney called for bipartisanship to move the nation forward. "At a time like this we can't risk partisan bickering and political posturing," he said.