Merck KGaA has reached an agreement with SpringWorks on a $47-per-share takeover deal that values the US biotech at $3.9 billion.

Merck KGaA is talking to SpringWorks about a takeover, and FDA approval for a neurofibromatosis drug could have sweetened any potential deal.

German chemical and pharma group Merck KGaA has acknowledged that it is in talks to buy US biotech SpringWorks, but cautioned there is no guarantee a deal will be forthcoming. Merck said in a ...