Dixons is expected to announce its merger with Carphone Warehouse on May 15th, when the firm is due to publish its full-year trading update.
According to the Telegraph, Carphone Warehouse has a market capitalisation of £1.9bn and Dixons Retail £1.8bn, implying the value of a combined group would be £3.7bn.
A source close to the situation told PCR the deal is 'as good as complete' - and is a matter of when it will be announced, not if.
The source added that Dixons Retail - which owns PC World and Currys - wants Phones 4U out of its stores and Carphone Warehouse involved going forwards.
Originally asked to come to an agreement on March 24th, the Takeover Panel gave the two companies more time to discuss their merger.
You can read more about how the merger could affect the PC/Tech industry in our analysis piece.