Fiat and Chrysler to go public together?

Sergio Marchionne is trying to pull off the deal of his lifetime, and there are lots of pieces to go around for bankers, lawyers and other cogs in the Wall Street deal machine.

The chief executive of Chrysler Group LLC and majority owner of Fiat SpA aims to have the Italian company buy full control of the U.S. auto maker and publicly sell shares on a U.S. stock exchange, a maneuver likely to include a complicated chain reaction that could mean more than $20 billion in deals.

That is almost as big as the $23 billion initial public offering by General Motors Co. in 2010. The stock sale delivered a $260 million payday to banks that worked on the deal, which is why Mr. Marchionne's ambitions are causing the biggest U.S. and European banks to circle.