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 (Merck) has moved to strengthen its position in oncology and rare diseases with a $3.9bn agreement to acquire SpringWorks Therapeutics. Under the deal, Merck will pay $47 per share in cash,

After months of discussion, Germany’s Merck KGaA said Monday it would buy SpringWorks Therapeutics for $47 a share in cash, a deal with an equity value of nearly $4 billion.