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Fiat Chrysler to merge with PSA Peugeot

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Fiat Chrysler and France’s PSA Peugeot on Thursday announced plans to merge.

The merger would create the fourth-largest automaker, which would be worth $50 billion, according to The Associated Press.

The 50-50 merger is expected to result in $4 billion in savings.

Read more from The Associated Press.

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