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Deals Rumor Mill: Sunac China, Penske, Banco BBM

By Benjamin Horney (May 15, 2015, 5:09 PM EDT) -- Chinese property developer Sunac China Holdings Ltd. has upped its offer to Kaisa Group Holdings Ltd. bondholders to try to nail down a takeover of the indebted rival, but creditors have not decided whether to accept, The Wall Street Journal reported Friday. Sunac offered to buy a 49.3 percent stake in the struggling Kaisa Group in February, and, according to the report, it recently told bondholders it would be willing to boost its bid. Sunac's initial offer valued Kaisa Group at $1.19 billion, the report said, but was conditional on restructuring the company's debt. It was unclear how much the property developer might be willing to raise its offer....

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