The Globe and Mail reports in its Friday edition that Magna International has made the most expensive acquisition in its history. The Globe's Greg Keenan writes that Magna will pay $2.47-billion (Canadian) to buy Getrag of Germany. Getrag is the largest independent maker of automotive transmissions. The purchase bolsters Magna's presence in a vehicle system that is crucial to reduce fuel consumption and cut emissions as government regulations grow more stringent. Magna built up a huge cash pile through the 1990s and 2000s, growing its auto parts business with small to medium-sized acquisitions and through internal expansion. Magna hung on to the cash through the 2008-2009 recession and since then has been returning some of it to shareholders by increasing dividends and buying back shares. The Getrag purchase will soak up the $1.3-billion (U.S.) in cash Magna held at the end of the first quarter and $525-million (U.S.) from the sale of its interior business, which is expected to close in the third quarter. Getrag is a growing business in a key technology area and diversifies Magna's geographic footprint and customer base. All 87 million vehicles assembled globally last year had a transmission.