GM and Stellantis are nearing a tentative contract with autoworkers and ending a costly six-week strike after agreeing to a 25% pay hike

The GM proposal also includes cost-of-living increases over the more-than-four-year contract, according to two of the people, who were not authorized to speak about the negotiations. A tentative agreement may be signed late Friday or early Saturday as the two sides work on final details, including how to handle temporary workers, the people said.

GM made the offer at about 4 a.m. Friday, the people said. Talks broke up at 5 a.m. and resumed at 11 a.m. The automaker wants to finalize the deal Friday, the people said, though an announcement may not come until Sunday, when UAW President Shawn Fain plans to update members on details of the Ford deal. 

Stellantis and GM shares rose modestly in after-hours trading. Ford shares rose slightly in late trading after dropping more than 12% Friday — the most in 13 months — one day after it pulled its profit forecast for the year due to the strike’s impact. GM shares fell 4.7% on the day; it suspended its full-year guidance on Oct. 24.

Any final agreements must be approved by union leadership and then voted on by the company’s union members, a process that may take weeks.

Talks with both automakers were continuing late Friday to complete final portions of the agreements, the people said. The UAW’s Fain left the GM meeting to go to the Stellantis table. 

Job security has been a key issue in the Stellantis talks, as the automaker shifts to electric vehicles. Stellantis had angered the union earlier this year by idling an assembly plant in Belvidere, Illinois, that once employed 5,000 people, and by pushing to use more lower-paid temporary workers. Stellantis proposed to close 18 facilities, including 10 parts and distribution…