The video and TV ratings giant Nielsen has been sold to a consortium of private equity firms, led by Evergreen Coast Capital Corp. (an affiliate of Elliott Management) and Brookfield Business Partners, in an all-cash deal that values the company at $16 billion, inclusive of debt.

Nielsen had rejected an $14 billion offer from the companies just a week ago, saying it “significantly undervalued” the company, but it accepted the higher bid on Tuesday. Tuesday’s bid was for $28 per share, well above the $25.40 per share in the prior offer.

“After a thorough assessment, the Board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees and stakeholders,” said James A. Attwood, chairperson of Nielsen’s board of directors, in a statement. “The Consortium sees the full potential of Nielsen’s leadership position in the media industry and the unique value we deliver for our clients worldwide.”

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