Germany's Merck KGaA has struck a deal to buy U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to add rare cancer t

Merck KGaA’s $3.9 billion deal to buy SpringWorks Therapeutics Inc. will expand the German conglomerate’s presence in the US at a time when many companies are seeking to increase investment in the country.

Merck KGaA’s long courtship of SpringWorks Therapeutics has come to fruition as the German drugmaker has bought out the Connecticut biopharma for an equity value of $3.9 billion, the companies