The Colombian forward has been made available for transfer by French club Monaco and both Arsenal and Manchester City have been in talks to sign him.
But reports now say United have stormed in at the last moment to agree a £51million fee, with the player now set to travel to England for a medical.
The news was revealed by respected South American journalist Saris Bello on Twitter, who adds that a four-year contract has already been accepted.
United are clearing the way for Falcao to
arrive by loaning Javier Hernandez to Real Madrid and allowing Danny
Welbeck to switch to Tottenham.
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