UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds MoneyGram, Societe Generale, and others)

Feb 12 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Tuesday.

(For Reuters columns on deals, click on [DEALTALK/])

** Saudi Telecom Co 7010.SE (STC) said it would borrow 9.6 billion riyals ($2.56 billion) from local banks to finance its purchase of a 35 percent stake in Oger Telecom.

To read more, please double click on [nL1213139]

** Student housing developer American Campus Communities Inc (ACC.N) said it would buy the student housing business of GMH Communities Trust GCT.N for about $1.4 billion to enter new markets and streamline costs. [nN12220001]

** The Latvian government said it would not accept Nordic telecom group TeliaSonera's (TLSN.ST) 500 million lat ($1.04 billion) offer for the state-owned stakes in fixed-line operator Lattelecom and mobile phone company LMT. [nSAT004945] [nL12862740]

** Venezuelan state-run oil company PDVSA agreed to sell its BORCO crude oil and refined products terminal in the Bahamas to private equity firm First Reserve for $900 million, the Financial Times reported. [nN12259961]

** Payment services company MoneyGram International Inc (MGI.N) said it would sell a majority stake in the company to an investment group led by private equity firm Thomas H. Lee Partners [THL.UL] and investment bank Goldman Sachs & Co (GS.N).

The investors will acquire an equity interest of about 63 percent for some $710 million. [nN12232069]

** Kuwait's Global Investment House (GLOB.KW) said it agreed to pay 205 million Bahraini dinars ($544.6 million) for a 40 percent stake in Bank of Bahrain & Kuwait BBKB.BHBBKB.KW. [nL12841001]

** Japan's Sumitomo Heavy Industries Ltd (6302.T) said a $532 million bid to buy Axcelis Technologies Inc (ACLS.O) may not be its final offer, leaving open the option of sweetening its bid for the chip equipment maker. [nT84043]

** Engineering and design firm Aecom Technology Corp (ACM.N) said it agreed to acquire Earth Tech, the infrastructure services unit of Tyco International Ltd (TYC.N), for $510 million in cash to strengthen its position in water and wastewater markets. [nBNG122818]

** Credito Emiliano (EMBI.MI) has bought Citibank's network of fund managers in Italy and five retail branches, it said in a statement. [nL12111994]

** British construction and engineering firm Balfour Beatty (BALF.L) has agreed to buy the public-private partnership (PPP) military housing business of U.S. real-estate trust GMH Communities GCT.N for $350 million. [nL12476614]

** Japanese non-prescription drug maker Taisho Pharmaceutical Co Ltd (4535.T) said it will spend up to 27.3 billion yen ($255 million) to take a 62 percent stake in Biofermin Pharmaceutical Co Ltd (4517.OS). [nT272450]