The Gunners have been chasing the Gabon international all month after Alexis Sanchez left to join Manchester United.
Arsenal had two bids initially turned down believed to be in the region of £50m.
However, it now appears they have agreed terms with the Bundesliga outfit for a fee of€63m (£55m).
That is according to German publication Kicker.
It is also reported that Olivier Giroud will not be moving in the opposite direction as he prefers a transfer to Stamford Bridge.
The report is reiterated by German footballexpert Manuel Veth who wrote on Twitter: “Movement in the #Aubameyang to#Arsenal deal.
“@kicker believes that the #BVB striker willbe sold for €63m.
“Giroud will not head to Dortmund instead the club is looking at Anthony Modeste as apotential replacements.
”And when asked how reliable his information was, he replied: “very.”
Arsenal had two bids initially turned down believed to be in the region of £50m.
However, it now appears they have agreed terms with the Bundesliga outfit for a fee of€63m (£55m).
That is according to German publication Kicker.
It is also reported that Olivier Giroud will not be moving in the opposite direction as he prefers a transfer to Stamford Bridge.
The report is reiterated by German footballexpert Manuel Veth who wrote on Twitter: “Movement in the #Aubameyang to#Arsenal deal.
“@kicker believes that the #BVB striker willbe sold for €63m.
“Giroud will not head to Dortmund instead the club is looking at Anthony Modeste as apotential replacements.
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