Ford and General Motors are negotiating a financing deal with First Brands that could help the company continue operating during Chapter 11 bankruptcy proceedings, according to the Financial Times.
The potential arrangement would involve the automakers paying in advance for products they plan to receive from First Brands, according to several people familiar with the matter.
While the negotiations could still collapse, the talks are reportedly approaching the "finish line," sources told the Financial Times.
The discussions have been ongoing over the past several days as the parties work to finalize terms that would provide First Brands with necessary liquidity during its restructuring process.
