Dell's offer to acquire EMC would be more than $27 per share, sources told CNBC on Thursday.
The deal announcement could be only a week away, and it could be one of the largest leveraged buyots on record.
Under the terms of the agreement, Dell would keep control of VMWare.
Sources said $40 billion in financing will be needed for deal.
Computing rivals Dell, EMC in deal talks
—CNBC's David Faber contributed to this report.