Will RFK Jr. drop out and endorse Trump?

(NEXSTAR) – As Robert F. Kennedy Jr. and Donald Trump both prepare to appear at two separate events in Arizona Friday, speculation is growing they may join forces.

The two presidential candidates have been negotiating this week, The Hill reports, over scenarios in which third-party candidate Kennedy would endorse former President Trump as he leaves the race.

“It’s a very big deal, because we’re talking about an election that will be decided by inches on the electoral map,” GOP strategist Ford O’Connell told The Hill.

Kennedy is scheduled to speak at 2 p.m. Eastern time in Phoenix “about the present historical moment and his path forward,” according to his campaign. (Kennedy's appearance will be streamed live in the video player at the top of this story once it begins.)

Hours later, Trump will hold a rally in neighboring Glendale. Trump's campaign has teased that he will be joined by “a special guest,” though neither campaign responded to messages about whether Kennedy would be that guest.

The two campaigns have ramped up their compliments to each other and engaged in behind-the-scenes discussions in recent weeks, according to those familiar with the efforts. Both campaigns have spent months accusing Democrats of weaponizing the legal system for their own benefit. And both have hinted publicly that they could be open to joining forces, with the shared goal of limiting the election chances of Democratic presidential nominee Kamala Harris.

Trump told NewsNation in an interview Thursday it "would be an honor" to receive Kennedy's endorsement.

The Associated Press contributed to this report.