Good Wednesday. This year’s DealBook Summit will feature speakers including Bill Gates, Hillary Clinton, Ginni Rometty of IBM and the Instagram co-founder Kevin Systrom. Apply to attend here. (Was this email forwarded to you? Sign up here.)

It’s auto merger Round 2 for Fiat Chrysler

Stop us if you’ve heard this one before: Fiat Chrysler confirmed this morning that it is in talks to combine with another automaker. This time it’s Peugeot — and it comes just months after Fiat’s attempts to merge with Renault failed.

An all-stock merger of equals is being weighed by the two companies as a potential deal option, according to the WSJ. Peugeot’s C.E.O., Carlos Tavares, would keep that role in the combined automaker, while Fiat’s chairman, John Elkann, would retain that title.

It reflects a belief that smaller car companies must combine if they’re to compete. Tough global competition, increasingly stringent emissions limits and pressure to invest heavily in electric and autonomous vehicles have made becoming bigger look increasingly better as a strategy for survival.