The Globe and Mail reports in its Saturday edition that Magna International ($63.93) is acquiring a Britain-based company that supplies stamped bodies for automakers such as Jaguar Land Rover, Ford Motor and General Motors. A Canadian Press dispatch to The Globe reports that the Ontario-based auto parts giant is mum on what it will pay for Stadco Automotive, which does steel and aluminum stampings as well as complex vehicle assemblies. Stadco employs 1,400 people at four plants in Britain and one in Germany. John Farrell, president of Magna's Cosma International division, said Stadco's expertise complements the Canadian company's capabilities as a supplier of automotive bodies and chassis. "In addition, this acquisition expands Cosma's geographic footprint and strengthens our existing global customer base," said Mr. Farrell. Expectations are for the deal to close in the fourth quarter of 2015, subject to certain regulatory approvals and conditions. The Globe's Nick Winch said buy Magna on May 26 when it was worth $70.37. ScotiaMcleod said buy Magna in The Globe on June 10 when it was worth $71.87. CIBC cut Magna to "sector perform" in The Globe on Sept. 24. Its was then worth $61.83.