The Globe and Mail reports in its Thursday, July 16, edition that unnamed sources say Magna International ($72.22) is nearing an agreement to buy Getrag, one of the largest independent makers of transmissions. A Bloomberg dispatch to The Globe reports that sources say Magna of Canada and Germany's Getrag could announce a deal as soon as this week. Sources say the family behind Getrag has been exploring a sale or initial public offering amid interest from other automotive suppliers. Magna would buy Getrag to add the company's transmission business to its own powertrain systems unit, which generated almost $5-billion in sales last year or about 14 per cent of total revenue. Magna is already a major player in transmission cases and other technologies, says Canaccord Genuity analyst David Tyerman. He says Getrag would be a significant boost for that business, with the possibility of expanding it through more outsourcing from automakers. Mr. Tyerman says, "They have never had full transmission capabilities, so obviously Getrag would fill that void." Mr. Tyerman recommends buying Magna shares. Getrag reported $3.6-billion in sales for 2013. The company was founded in 1935.